The following bond was quoted in The Wall Street Journal: Bonds NJ 4.125 % 35 Current yield 4.3% Volume 5 Close 87.375% Increased cost Net change +1.0625% Four bonds were purchased yesterday, and 4 bonds were purchased today. How much more did the 4 bonds cost today? Note: Do not round intermediate calculations. Round your answer to 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
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ces
The following bond was quoted in The Wall Street Journal:
Current yield
Bonds
NJ 4.125% 35
4.3%
Increased cost
Volume
5
A
Close
87.375%
Four bonds were purchased yesterday, and 4 bonds were purchased today. How much more did the 4 bonds cost today?
Note: Do not round intermediate calculations. Round your answer to the nearest cent.
Net change
+1.0625%
Transcribed Image Text:ces The following bond was quoted in The Wall Street Journal: Current yield Bonds NJ 4.125% 35 4.3% Increased cost Volume 5 A Close 87.375% Four bonds were purchased yesterday, and 4 bonds were purchased today. How much more did the 4 bonds cost today? Note: Do not round intermediate calculations. Round your answer to the nearest cent. Net change +1.0625%
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