A Semi-Annual Coupon Bond Is Reported as Having an Ask

question 10

Multiple Choice

A semi-annual coupon bond is reported as having an ask price of 113% of the $1,000 par value in the Wall Street Journal. If the last interest payment was made 60 days ago and the coupon rate is 12%, the invoice price of the bond will be

• A) $1,100.
• B) $1,110.
• C) $1,150.
• D) $1,160.
• E) None of the options are correct.

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