Multiple Choice
Adriann purchased a 10-year bond. After three years paying 5 percent interest, the interest rate drops to 3 percent. Adriann is surprised when the bond issuer recalled her bond shortly after the rate drop. Adrianna had most likely purchased a ________ bond.
A) convertible
B) sinking-fund
C) common
D) serial
E) callable
Correct Answer:
Verified
Correct Answer:
Verified
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