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People create budgetary slack because
Par Value
The face value of a bond or the stock value stated in the corporate charter, often used as a reference point for the bond's interest payment.
Callable Bond
A bond that can be redeemed by the issuer prior to its maturity date, usually at a premium to its face value.
Straight Bond
A fixed-income security that pays a fixed interest rate until maturity, at which point the principal is repaid; does not have any special features like convertibility or callability.
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