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Consider a bond with a settlement date (date of purchase) of 10/15/2020, and a maturity date of 12/15/2026. The coupon rate is 7% and coupons
Consider a bond with a settlement date (date of purchase) of 10/15/2020, and a maturity date of 12/15/2026. The coupon rate is 7% and coupons are paid semiannually. The par is $1000. If the bond's price is quote as 98.5 on the settlement day, what will be the invoice price of the bond at the time? Use 30 days for all the months in your calculation. Round your answer to the nearest $0.1, i.e., one decimal place
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