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A joke of my own creation: What's the par value of a zero-coupon bond with no maturity? Pee Dollars! This joke didn't do very well in the last joke thread, so
by dwwoelfel 16y ago
A joke of my own creation:
What's the par value of a zero-coupon bond with no maturity?
Pee Dollars!
This joke didn't do very well in the last joke thread, so I'll explain it in this one. Typically, the par value of a bond is represented by the letter P. Maturity is when the bond pays out. A person with no maturity would hear "p" and think "pee", so the joke is a pun on both P and maturity. But wait, there's more! A zero coupon bond without expiration is worthless -- just like pee dollars.