Mary is considering the purchase of 5 bonds. What is the market value of these bonds?
Face value of each bond: $500
Price per bond: 75.5%
Interest rate: 9.25%
Commission per $500 bond: $5
A) $231.25
B) $1,887.50
C) $2,642.50
D) $18,875
Correct Answer:
Verified
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