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

تمرين 77

On March 1, Wayne Michaels bought 10 Metro Petroleum bonds with a coupon rate of 9.125%. The purchase price was 88.875, and the commission was $6 per bond. Metro Petroleum bonds pay interest on February 1 and August 1.
a. What is the current yield of the bond
b. What is the total purchase price of the bonds
c. If Wayne sold the bonds on November 1 for 93.875, what are the proceeds from the sale