Elliot holds a bond in a health care company that matures after a period of ten years. Taken together with the interest on the principal amount, on maturity, Elliot will receive a sum of $55,000, which is the bond's _____.
Bond's par value also known as face amount is the amount of money a company or firm promise to pay on bonds after a stipulated period of time. For example a company can promise to pay $800 after 10 years on its bonds.
