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You purchase a bond with a coupon rate of 4.8 percent and a clean price of $1,040. If the next semiannual coupon payment is due
You purchase a bond with a coupon rate of 4.8 percent and a clean price of $1,040. If the next semiannual coupon payment is due in three months, what is the invoice price? Assume a par value of $1,000.
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$1,052.00
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$1,016.00
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$1,028.00
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$1,097.28
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