Question
You purchase a bond with an invoice price of $1,050. The bond has a coupon rate of 7.2 percent, and there are 4 months to
| You purchase a bond with an invoice price of $1,050. The bond has a coupon rate of 7.2 percent, and there are 4 months to the next semiannual coupon date. Assume a par value of $1,000. |
| What is the clean price of the bond? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) |
| Clean price | $ |
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Basic Finance An Introduction To Financial Institutions, Investments And Management
Authors: Herbert B Mayo
9th Edition
0324322291, 9780324322293
