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Cash Price of a Bond A 7% bond matures November 9th, 2023, and is quoted on the FINRA website as trading at 98. The settlement
Cash Price of a Bond
A 7% bond matures November 9th, 2023, and is quoted on the FINRA website as trading at "98". The settlement date for the transaction is September 8, 2018. The bond pays coupons semiannually. Assume each month has 30 days and each semiannual coupon period has 180 days. The cash price (invoice price, dirty price) in actual dollars should be $______________. Margin of error for correct responses: +/- $.05.
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