Question
You purchase a $1,000 face-value bond with an invoice price of $985. The bond has a coupon rate of 6.00% compounded semi-annually, and there are
You purchase a $1,000 face-value bond with an invoice price of $985. The bond has a coupon rate of 6.00% compounded semi-annually, and there are 3 months to the next semiannual coupon date. What is the clean price of the bond?
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Personal Financial Planning
Authors: Lawrence J. Gitman, Michael D. Joehnk, Randy Billingsley
13th edition
1111971633, 978-1111971632
