You purchase 30 bonds with a coupon rate of 5.875% and a current market price of 89. The commission charge is $15.00 per bond. The date of the transaction is September 1, and the bond pays interest on January 1 and July 1. What is your total purchase price? a.) $27,200.00 b.) $27,443.75 c.) $27,800.00 d.) $27,791.60
You purchase 30 bonds with a coupon rate of 5.875% and a current market price of 89. The commission charge is $15.00 per bond. The date of the transaction is September 1, and the bond pays interest on January 1 and July 1. What is your total purchase price? a.) $27,200.00 b.) $27,443.75 c.) $27,800.00 d.) $27,791.60
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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You purchase 30 bonds with a coupon rate of 5.875% and a current market price of 89. The commission charge is $15.00 per bond. The date of the transaction is September 1, and the bond pays interest on January 1 and July 1. What is your total purchase price?
a.) $27,200.00
b.) $27,443.75
c.) $27,800.00
d.) $27,791.60
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