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A coupon bond paying semiannual interest is reported as having an ask price of 127% 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 127% 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? Assume that the month has 30 days.
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Mathematics Of Finance
Authors: Robert Brown, Steve Kopp, Petr Zima
8th Edition
0070876460, 978-0070876460
