You purchase a bond with an invoice price of $1,032. The bond has a coupon rate of 8.1 percent, and there are four months to the next semiannual coupon date. The bond has a par value of $1,000. What is the clean price of the bond? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) Clean price

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
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You purchase a bond with an invoice price of $1,032. The bond has a coupon rate of 8.1
percent, and there are four months to the next semiannual coupon date. The bond has a
par value of $1,000. What is the clean price of the bond? (Do not round intermediate
calculations and round your answer to 2 decimal places, e.g., 32.16.)
Clean price
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Transcribed Image Text:You purchase a bond with an invoice price of $1,032. The bond has a coupon rate of 8.1 percent, and there are four months to the next semiannual coupon date. The bond has a par value of $1,000. What is the clean price of the bond? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) Clean price ( Prev 10 of 10 Next
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