Jefferson-Smith Bonds Are Quoted at a Price of $952

question 71

Multiple Choice

Jefferson-Smith bonds are quoted at a price of $952.42 for a $1,000 face value bond. These bonds have a modified duration of 9.84. What is the dollar value of an 01?

• A)$.0977
• B)$.0963
• C)$.1028
• D)$.9372
• E)$.9767

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Definitions:

Precedent

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An official document from an executive branch, such as the President or a governor, that provides directions or actions for government agencies to follow, less formal than an executive order.

President

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