Question
Mary purchased a corporate bond with the settlement date on September 15 with the face value of $1000 and the coupon rate 10.90%, that has
Mary purchased a corporate bond with the settlement date on September 15 with the face value of $1000 and the coupon rate 10.90%, that has a listed price of 119.246 and that pays interest semiannually on February 15 and August 15. Accrued interest is determined using actual/actual convention. How much must Mary pay for the bond?
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Basic Finance An Introduction to Financial Institutions, Investments and Management
Authors: Herbert B. Mayo
11th Edition
1285425790, 1285425795, 9781305464988 , 978-1285425795
