Business
06.03.2020 04:15
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The bond has a coupon rate of 6.11 percent, it makes semiannual payments, and there
The bond has a coupon rate of 6.11 percent, it makes semiannual payments, and there are 2 months to the next coupon payment. A clean price of $977 and the par value is $1,000. What is the invoice price?
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makayla7635
4,5(83 marks)
$997.37
Explanation:
For computing the invoice price first we have to determine the accrued interest which is shown below:
Accrued interest is
= Par value × coupon rate × remaining months ÷ total months
= $1,000 × 6.11% × 4 months ÷ 12 months
= $20.37
Now
Invoice price is
= Clean price + Accrued interest
= $977 + $20.37
= $997.37
aliviafeidlerAlivia
4,4(77 marks)
Its correct because tge more cheeper it is the more will eat and she will make goid money and the higher price will take her shop in loss
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