Question
A $1,000 par value, semiannual coupon bond has a coupon rate of 5% and is quoted at 101.125 (percent of par) with settlement on April
A $1,000 par value, semiannual coupon bond has a coupon rate of 5% and is quoted at 101.125 (percent of par) with settlement on April 23. The next coupon will be paid on July 15 (83 days after the settlement date).
Given there are 181 days between January 15 and July 15, the bonds full invoice (dirty) price is closestto:
| A | $1,022.71. |
| B | $1,024.79. |
| C | $1,027.29. |
| D | $1,028.21. |
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Financial Institutions Management
Authors: Anthony Saunders
3rd Edition
007303259X, 978-0073032597
