Question
Accrued Interest. You purchase a bond with an invoice price of $1,043. The bond has a coupon rate of 5.7 percent, semiannual coupons, a $1,000
Accrued Interest.You purchase a bond with an invoice price of $1,043. The bond has a coupon rate of 5.7 percent, semiannual coupons, a $1,000 par value, and there are 5 months to the next coupon date. What is the clean price of the bond?
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Fundamentals of Investment Management
Authors: Geoffrey Hirt, Stanley Block
10th edition
0078034620, 978-0078034626
