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You purchase a bond with an invoice price of $ 1 , 0 6 0 . The bond has a coupon rate of 9 .

You purchase a bond with an invoice price of $1,060. The bond has a coupon rate of 9.2 percent, semiannual coupons,
and there are five months to the next coupon date. What is the clean price of the bond?
Please use the following formulas to calculate:
Dirty price=clean price+ accrued interest
Accrued interst= interest per month* # of months since last interest payment

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