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Zazzle. Zazzle is an American online marketplace that allows designers and customers to create their own products with independent manufacturers (clothing, posters, etc.), as well as use images from participating companies. Zazzle has partnered with many brands to amass a collection of digital images from companies like Disney, Warner Brothers ...
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Consider a 30-year zero-coupon bond with a face value of $100. If the bond is priced at an annual YTM of 10%, it will cost $5.73 today (the present value of this cash flow, 100/(1.1) 30 = 5.73). Over the coming 30 years, the price will advance to $100, and the annualized return will be 10%.
This was introduced in 1995, and after a trial period until 31 August 1995 when the price was set at £5.00, the cost settled at £10.00 per year for a number of years. There was a subsequent increase to £12.00 per year, but during 2007 a discounted price of £10.00 applies.
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