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Zero-coupon bonds are those that pay no coupons and thus have a coupon rate of 0%. [ 6 ] [ 7 ] Such bonds make only one payment: the payment of the face value on the maturity date. Normally, to compensate the bondholder for the time value of money , the price of a zero-coupon bond will always be less than its face value on any date of purchase ...
Transporting mail to final destinations is the most labor-intensive stage and accounts for up to 50% of postal operators' expenses. [77] Depending upon the final destination, carriers often use vehicles, their own feet, or a combination of both. [ 77 ]