Word: putnum
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Dates: during 1980-1989
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...allowed to have the bond prematurely redeemed, at a price equal to the principal and interest thus accrued, and the University is allowed to change the rate of interest it pays out on the issue. "Both the seller and buyer are protected against change's in interest rate," explained Putnum, pointing out that with the uncertain nature of interest rates, investors are increasingly unwilling "to stick their necks out to buy bonds...
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