You purchase 10 bonds with a coupon rate of 9% and a current market price...
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Accounting
You purchase 10 bonds with a coupon rate of 9% and a current market price of 101.125. The commission charge is $5 per bond. The date of the transaction is Oct 1, and the bond pays interest on January 1 and July 1. What is your total purchase price?
a. $10,400.00
b. $10,392.50
c. $10,391.90
d. $10,395.10
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