Contemporary Mathematics for Business & Consumers 8th Edition by Robert Brechner,Geroge Bergeman

تمرين 3

On May 1, Emerson Fast bought 10 Manitoba Polar bonds with a coupon rate of 7.875%. The purchase price was 101.375, and the commission was $8 per bond. Manitoba Polar bonds pay interest on April 1 and October 1.
a. What is the current yield of the bond
b. What is the total purchase price of the bonds
c. If Emerson sold the bonds on August 1 for 109.50, what are the proceeds from the sale