You Want to Buy a Bond That Has a Quoted

question 19

Multiple Choice

You want to buy a bond that has a quoted price of $923.The bond pays interest semiannually on April 1 and October 1.The coupon rate is 6 percent.What is the clean price of this bond if today's date is June 1? Assume a 360-day year.

• A) $927.62
• B) $923.00
• C) $923.23
• D) $936.85
• E) $1,076.83

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Definitions:

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Reticular Activating System

a network of neurons in the brainstem involved in regulating wakefulness and sleep-wake transitions.

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