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You Purchase a Bond with an Invoice Price of $960

Question 368

Multiple Choice

You purchase a bond with an invoice price of $960. The bond has a coupon rate of 5.5%, and there are three months to the next semiannual coupon date. What is the clean price of the bond?


A) $955.32
B) $951.15
C) $948.14
D) $946.25
E) $944.13

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