Question
A semi-annual coupon bond is reported as having an ask price of 113% of the $1,000 par value in the WallStreetJournal. If the last interest
A semi-annual coupon bond is reported as having an ask price of 113% of the $1,000 par value in the WallStreetJournal. If the last interest payment was made 60 days ago and the coupon rate is 12%, the invoice price of the bond will be
a.
$1,100.
b.
$1,110.
c.
$1,150.
d.
$1,160.
e.
None of the options are correct
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Financial management theory and practice
Authors: Eugene F. Brigham and Michael C. Ehrhardt
12th Edition
978-0030243998, 30243998, 324422695, 978-0324422696
