Question
A coupon bond that pays interest quarterly is reported in the Wall Street Journal as having an ask price of 120% of its $1000 par
"A coupon bond that pays interest quarterly is reported in the Wall Street Journal as having an ask price of 120% of its $1000 par value. If the last interest payment was made 2 months ago and the coupon rate is 9%, the invoice price of the bond will be _________. "
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Financial Accounting
Authors: Robert K. Eskew, Daniel L. Jensen
5th Edition
0070213550, 978-0070213555
