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You are buying a bond at a quoted price of $972. The bond has a...

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Question

Finance

You are buying a bond at a quoted price of $972. The bond has a 6.3% coupon and pays interest semiannually on January 1 and July 1. What is the invoice price of this bond if today is April 1? Assume a 360-day year.

Group of answer choices

$987.75

$1,003.50

$972.00

$940.50

$946.00

Answer & Explanation Solved by verified expert
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