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Consider the following T-bond: $10,000 face amount of the 5 3/4 as of May 31, 2025. The bond is currently quoted as 99-24. What was
Consider the following T-bond: $10,000 face amount of the 5 3/4 as of May 31, 2025. The bond is currently quoted as 99-24. What was the price and the coupon payment of the bond?
I know this question has been answered before on Chegg, but I don't understand the work that was used. Can you please explain each step. For example what does 5 3/4 mean and what does a quote of 99-24 mean?
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