It Is May 1

question 9

Multiple Choice

It is May 1.The quoted price of a bond with a 30/360 day count and 12% per annum coupon in the United States is 105.It has a face value of 100 and pays coupons on April 1 and October 1.What is the cash price? \

• A) 106.00
• B) 106.02
• C) 105.98
• D) 106.04

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Definitions:

Marxist Socialists

Ideologists who follow the teachings of Karl Marx, advocating for a society without classes where the means of production are owned collectively.

Reform Socialists

Advocates a peaceful, evolutionary transition of society to socialism through legal and political reforms rather than revolutionary upheaval.

Anarchism

A political philosophy that advocates self-governed societies based on voluntary, cooperative institutions and the rejection of all involuntary, coercive forms of hierarchy.