Question
A coupon bond paying semiannual interest is reported as having an ask price of 109% of its $1,000 par value. The last interest payment was
A coupon bond paying semiannual interest is reported as having an ask price of 109% of its $1,000 par value. The last interest payment was made 30 days ago and the coupon period has 182 days. If the coupon rate is 6%, what is the invoice price of the bond? (Do not round intermediate calculations. Round your answer to 2 decimal places.)
Invoice price $
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The New Public Finance
Authors: Inge Kaul, Pedro Condeicao
1st Edition
0195179978, 978-0195179972
