You purchase a bond with an invoice price of 1150 the bond, Ask an Expert

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You purchase a bond with an invoice price of $1,150. The bond has a coupon rate of 11 percent, semiannual coupons, and there are three months to the next coupon date.

Required:

What is the clean price of the bond? (Do not round intermediate calculations. Round your answer to 2 decimal places (e.g., 32.16).)

Clean price $

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M91775604

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