A Bond Has a Face Value of $100 and a Conversion

question 71

Multiple Choice

A bond has a face value of $100 and a conversion ratio of 28.What is the conversion price?

• A)$0.28
• B)$2.80
• C)$3.57
• D)$7.14
• E)$28.00

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Definitions:

Monthly Credit

Refers to any credit received or applied to an account each month, such as cash back from a credit card or credit for returned items.

Total Cost

The complete amount of money spent on producing or acquiring goods or services, including all variable and fixed costs.

Save Up

The act of regularly setting aside a portion of income or resources for future use or for a specific goal.

Esker

A long, winding ridge of sand and gravel deposited by meltwater streams flowing beneath a glacier.