The bond prices that you see quoted in the financial pages are not the prices you pay for the bond. It is because the quoted price does not include the interest that accrues between coupon payments dates. If a bond is purchased, the buyer must pay the seller for accrued interest. Therefore, invoice price of a bond includes quoted price and accrued interest. Suppose that coupon rate is 7%. Coupons are paid semiannually. 157 days have passed since the last coupon payment and there are 182 days in the semiannual coupon payments. What is invoice price or the total price you pay to the seller if you would like to this bond at a quoted (market) price of $990?