Question
You purchase a bond with an invoice price of $1,060. The bond has a coupon rate of 9.2 percent, and there are 2 months to
You purchase a bond with an invoice price of $1,060. The bond has a coupon rate of 9.2 percent, and there are 2 months to the next semiannual coupon date. What is the clean price of the bond? Assume a par value of $1,000.
Multiple Choice
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$1,009.33
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$1,029.33
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$998.77
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$1,040.33
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$1,024.67
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Intermediate Financial Management
Authors: Eugene F. Brigham, Phillip R. Daves
8th Edition
0324258917, 9780324258912
