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A $1,000 par-value bond with a coupon rate of 5% makes semiannual payments on January 15 and July 15 of each year. The Wall Street
A $1,000 par-value bond with a coupon rate of 5% makes semiannual payments on January 15 and July 15 of each year. The Wall Street Journal reports that the ask price of the bond on April 13 is 100.25. What is the invoice price of the bond? Hint: Bonds are priced on 365/30 basis and the coupon period is 182 days
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