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Valuation models of Debt and Equity I understand mathematically the equation that connects the present value of the bond to its maturity value and to...

Valuation models of Debt and Equity

I understand mathematically the equation that connects the present value of the bond to its maturity value and to the interest rate. But I don't understand the whole meaning behind it. Could someone explain? Also, who benefits more from rises in interest rates, the investors or the issuers? Thanks.

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