Question
A coupon bond paying semiannual interest is reported as having an ask price of 114% of its $1,000 par value. If the last interest payment
| A coupon bond paying semiannual interest is reported as having an ask price of 114% of its $1,000 par value. If the last interest payment was made one month ago and the coupon rate is 7%, what is the invoice price of the bond?(Do not round intermediate calculations. Round your answer to 2 decimal places.) |
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Financial Management for Public, Health and Not-for-Profit Organizations
Authors: Steven A. Finkler, Daniel L. Smith, Thad D. Calabrese, Robert M. Purtell
5th edition
1506326846, 9781506326863, 1506326862, 978-1506326849
