n March 1, Wayne, Michaels bought 10 bonds from a particular company with a coupon rate of 9.725%. The purchase price was 87.875 and the commission was seven dollars per bond. Buns from this particular company pay interest on February 1 and August 1. A-what is the current yield as a percent of the bond as of the purchase date round your answer to one decimal place? B- what is the total purchase price in dollars of the bond round your answer to the nearest cent?  C-if Wayne sold the bonds on November 1 for 92.875 what are the proceeds and dollars from the sale round your answer the nearest cent?
n March 1, Wayne, Michaels bought 10 bonds from a particular company with a coupon rate of 9.725%. The purchase price was 87.875 and the commission was seven dollars per bond. Buns from this particular company pay interest on February 1 and August 1. A-what is the current yield as a percent of the bond as of the purchase date round your answer to one decimal place? B- what is the total purchase price in dollars of the bond round your answer to the nearest cent?  C-if Wayne sold the bonds on November 1 for 92.875 what are the proceeds and dollars from the sale round your answer the nearest cent?
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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On March 1, Wayne, Michaels bought 10 bonds from a particular company with a coupon rate of 9.725%. The purchase price was 87.875 and the commission was seven dollars per bond. Buns from this particular company pay interest on February 1 and August 1.
A-what is the current yield as a percent of the bond as of the purchase date round your answer to one decimal place?
B- what is the total purchase price in dollars of the bond round your answer to the nearest cent?

C-if Wayne sold the bonds on November 1 for 92.875 what are the proceeds and dollars from the sale round your answer the nearest cent?
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