Question
A bond matures in 2020 and has an annual coupon of 3.65 percent, payable on January 1 and July 1. The current price of the
A bond matures in 2020 and has an annual coupon of 3.65 percent, payable on January 1 and July 1. The current price of the $1,000 bond is $978. On January 30, you purchase $10,000 face amount (settlement date is February 2) and your broker charged a $25 commission. How much must you remit for the purchase?
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Cost Management Measuring Monitoring And Motivating Performance
Authors: Leslie G. Eldenburg, Susan K. Wolcott
2nd Edition
978-0-470-7694, 0470769424, 978-0470769423
