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12. A bond has 6.4% coupon rate, semi-annual payment that is currently quoted at a price of $1,021 each. The bonds pay interest on January
12. A bond has 6.4% coupon rate, semi-annual payment that is currently quoted at a price of $1,021 each. The bonds pay interest on January 1 and July 1 . What is the cash price of this bond if today's date is December 14 ? There are: 181 days Jan. 1 to July 1 184 days July 1 to Jan. 1 167 days July 1 to Dec. 14 14 days Dec. 14 to Jan. 1 A. $1,050.04 B. $1,105.75 C. $1,112.00 D. $1,118.25 E. $1,124.50
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