Solve the Problem. -The Manager of a Retirement Account Purchased 128 Solar Energy

question 16

Multiple Choice

Solve the problem.
-The manager of a retirement account purchased 128 Solar Energy (SNG) bonds that mature in 2020 for the retirement account. According to a bond table, the last price is 96.375 and the coupon rate is 7.750. Assuming a sales commission of $1 per bond, find the total purchase price of the bonds, and the annual interest payment.

• A)$127,036.25, $6,646.40
• B)$123,360.00, $7750.00
• C)$123,488.00, $9,920.00
• D)$123,232.00, $9,820.80

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