Calculate the Accrued Interest Per Bond and the Total Purchase $\quad$

question 150

Short Answer

Calculate the accrued interest per bond and the total purchase price of the following bond purchase, rounding each number to the nearest cent. $\quad$ $\quad$ $\quad$ $\quad$ $\quad$ $\quad$ $\quad$ $\quad$ $\quad$ $\quad$ $\quad$ $\quad$ $\quad$ $\quad$$\text { Time since }$
$$\begin{array}{l}\begin{array} { l l l l l l l l } & \text { Coupon } & \text { Market } & \text { Last } & \text { Accrued } & \text { Commission Per}& \text { Bonds } & \text { Total } \\\text { Company } & \text { Rate } & \text { Price } & \text { Interest } & \text { Interest } & \text { Bond } & \text { Purchased } & \text { Price } \\\text { Quasar Ind. } &8.50 & 104.50 & 2 \text { months } & & \$ 5.00 & 1 &\end{array}\end{array}$$

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Definitions:

Demand Schedules

Tables that show the relationship between the price of a good and the quantity demanded by consumers at those prices, typically illustrating the law of demand.

World Price

A good or service's price on the international market, shaped by worldwide supply and demand forces.

Per-Unit Tariff

A fixed fee charged by a government on each unit of goods imported, intended to protect domestic industries.

High Tariffs

Elevated taxes imposed on imported goods, typically used to protect domestic industries from foreign competition.