A correct option is an option(d), i.e., Bonds are loans from investors to issuers.
A bond is a debt given by an investor to a borrower, such as a business or the government. The borrower uses the funds to support company operations, and the investor earns interest on their investment. A bond's market value might fluctuate over time.
To raise funds, issuers sell bonds and other debt instruments; the majority of bond issuers are governmental bodies, financial institutions, and commercial enterprises. Investment banks and other companies that help issuers sell bonds are called underwriters. The companies, governments, and people who buy bonds are the ones paying for the debt that is being created.
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