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four decimal places please! EXERCISE #5: A 12-year 7% semiannual corporate bond is quoted at 99.625. This is called the clean (or flat) price. The

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four decimal places please!

EXERCISE #5: A 12-year 7% semiannual corporate bond is quoted at 99.625. This is called the clean (or flat) price. The bond pays coupons on February 15 and August 15. You are buying $11,000 face value of the bond on June 30. Your commission is $2 per $1000 face value. Your invoice price is equal to the clean price plus the accrued interest plus the commission. Feb15 Mar 15 Apr15 May15 Jun15 Jul15 Aug15 The accrued interest is x 180 The invoice price is

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