Question
A bond with a face amount of $15,000 has a current price quote of 108.55. What is the bond's price? a. 15,108.55 b. 1,628,250 c.
A bond with a face amount of $15,000 has a current price quote of 108.55. What is the bond's price?
a. 15,108.55
b. 1,628,250
c. 16,282.50
d. 1,628.25
Please advise on how answer was calculated. Thank you.
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Accounting Volume 2
Authors: James Reeve, Jonathan Duchac, Sheila Elworthy, Carl S. Warren
2nd Canadian edition
176501452, 978-0176501457, 978-0176509743
