1. The bond sells for 101:06 bid which is a price of 101.1875% of par or $1,011.875...

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1. The bond sells for 101:06 bid which is a price of 101.1875% of par or $1,011.875 and 101:07 ask, or $1,012.1875. This ask price corresponds to a yield of 4.423%. The ask price rose 26/32 from its level yesterday, so the ask price then must have been 100:13 or $1,004.0625. LO.1

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Essentials Of Investments

ISBN: 9780697789945

8th Edition

Authors: Zvi Bodie, Alex Kane, Alan J. Marcus

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