Bonds with a face value of $600,000 and a quoted price of 104¼ have a selling price of
A)$625,500.
B)$624,150.
C)$602,550.
D)$624,000.

Name: Bonds with a face value of $600,000 and a quoted price of 104¼ have a selling price of A)$625,500. B)$624,150. C)$602,550. D)$624,000.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

The selling price of the bonds is the face value multiplied by the quoted price. The quoted price is 104¼, which is 104.25. So, the selling price is $600,000 x 104.25 = $625,500.

Bonds with a Face Value of $600,000 and a Quoted