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17-2. Basic Features of a Bond. Bonds as fixed income securitiesPay a fixed amount of interest periodically to the holder of recordRepay a fixed amount of principal at the date of maturityBond market is divided by maturityMoney Market: Short-term issues that mature within one yearNotes: Intermediate-term issues that mature between one and ten yearsBonds: Long-term obligations with maturity greater than ten years.

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