Question
Problem 8-23 Accrued Interest You purchase a bond with a par value of $1,000, a coupon rate of 7.5 percent, and a clean price of
Problem 8-23 Accrued Interest
| You purchase a bond with a par value of $1,000, a coupon rate of 7.5 percent, and a clean price of $915. |
| If the next semiannual coupon payment is due in two months, what is the invoice price? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) |
Answer is NOT 883.75
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Public Finance Theory And Practice
Authors: M. Marlow
1st Edition
0030969603, 978-0030969607
