Answered: A bond with a face amount of $12,000…

A bond with a face amount of $12,000 has a current price quote of 107.15. What is thebond’s price?a. $12,107.15b. $1,285.80c. $12,858.00d. $128,580

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

A bond with a face amount of $12,000 has a current price quote of 107.15. What is the
bond’s price?
a. $12,107.15
b. $1,285.80
c. $12,858.00
d. $128,580

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