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Nine $ 1 0 0 0 bonds with 2 . 8 % coupons payable semi dash annually are purchased three months after a coupon matures,
Nine $ bonds with coupons payable semi dash annually are purchased three months after a coupon matures, to yield compounded quarterly. The bonds mature in four years.
a What is the market price or quoted price of the bonds?
b What is the accrued interest?
c What is the cash price?
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Part
a The quoted price of the bonds is $
enter your response here.
Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.
Part
b The accrued interest is equal to $
enter your response here.
Round to the nearest cent as needed.
Part
c The cash price is $
enter your response here.
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