How are bonds and notes the same? How do they differ?

Answer: Bonds and notes are similar in that both obligate the issuing corporation to repay a stated amount at a
specified maturity date, usually at a specified interest rate. The periodic interest is expressed as a percentage of
the face amount. Bonds and notes differ in that a company will borrow from banks and other lending
institutions using notes. Bonds are used sold in public bond markets. Bonds usually have longer maturities than
notes.

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