MARKET DISCOUNT BOND Definition

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MARKET DISCOUNT BOND is any bond having market discount except: short-term obligations with fixed maturity dates of up to 1 year from the date of issue, tax-exempt obligations that you bought before May 1, 1993, U.S. savings bonds, and certain installment obligations.

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SHORT TERM INVESTMENTS are fixed income investments that mature in less than one year.

TRUE VALUE is the amount that a buyer is finally willing to pay.

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