A(n) ______ bond has a market price that is less than par value.

Name: A(n) ______ bond has a market price that is less than par value.
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A discount bond is a bond that has a market price that is lower than its face value, or par value. This is because the bond's coupon rate is lower than the prevailing market interest rate, making it less attractive to investors, who demand a lower price for it.

A(n) ______ Bond Has a Market Price That Is Less