Why does a zero coupon bond typically sell at a discount to, Finance Basics

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Why does a zero coupon bond typically sell at a discount to

Question: 1. Why does a zero coupon bond typically sell at a discount to its par value?

2. Should bond prices rise or fall as the general level of interest rates in the economy rise?

3. What does the term positive convexity mean?

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Finance Basics: Why does a zero coupon bond typically sell at a discount to

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