A corporate bond was quoted yesterday at 102.16 while today's quote is 102.19. What is the change in the value of a bond that has a face value of $3,000?

Question

Quizplus · Accepted Answer

The change in the bond's value is calculated by the difference in the quotes multiplied by the face value, divided by 100. The difference in quotes is 102.19 - 102.16 = 0.03. Therefore, the change in value is 0.03 * $3,000 / 100 = $0.90.

A Corporate Bond Was Quoted Yesterday at 102