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From the first coupon in 1894 to the last one used, coupons help people save billions every year. 0]) is the expected value of the bond (based on the probabilities of moving to the different levels of interest rates represented in the tree) and the first coupon (c) properly discounted. The first coupon was ceremoniously handed out to several police explorers, including 15-year-old Vanessa Perplies. |
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