________ are financial instruments issued by state and local governments and bought by investors.In exchange for a cash payment at the time the bond is issued, the issuing government promises the investor that it will repay the loan with interest over time.

Question

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Bonds are financial instruments issued by governments, in which they borrow money from investors and promise to repay the loan with interest over time. This is a way for the government to finance various projects, such as building infrastructure or funding education, without having to raise taxes or cut spending. Bondholders receive regular interest payments and are repaid the principal amount when the bond matures. Bonds are a popular investment choice for individuals and institutions seeking a reliable source of income and relatively low risk.

________ Are Financial Instruments Issued by State and Local Governments