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Two $1,000 bonds, with interest at 8% on March 1 and September 1, were purchased...

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Question

Accounting

Two $1,000 bonds, with interest at 8% on March 1 and September 1, were purchased on October 8 at 104 plus accrued interest. Compute the entire purchase cost of the bonds. (Assume a 360-day year and a commission of $5 per bond.)

Group of answer choices

$2,096.88

$2,106.44

$2,050.00

$2,106.88

Answer & Explanation Solved by verified expert
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