You purchase 10 bonds with a coupon rate of 9% and a current market price of 101.125. The commission charge is $5 per bond. The
You purchase 10 bonds with a coupon rate of 9% and a current market price of 101.125. The commission charge is $5 per bond. The date of the transaction is Oct 1, and the bond pays interest on January 1 and July 1. What is your total purchase price?
a. $10,400.00
b. $10,392.50
c. $10,391.90
d. $10,395.10
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Authors: Terry d. Warfield, jerry j. weygandt, Donald e. kieso
2nd Edition
471737933, 978-0471737933
