A $60,000 face value STRIPS is quoted at 96.100. What is the dollar price?
A)$57,267.50
B)$57,350.00
C)$57,415.00
D)$57,577.78
E)$57,660.00

Name: A $60,000 face value STRIPS is quoted at 96.100. What is the dollar price? A)$57,267.50 B)$57,350.00 C)$57,415.00 D)$57,577.78 E)$57,660.00
Brand: Quizplus
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Question

Quizplus · Accepted Answer

The dollar price of a STRIPS quoted at 96.100 is calculated by multiplying the face value by the quoted price percentage: $60,000 * 0.961 = $57,660.00.

A $60,000 Face Value STRIPS Is Quoted at 96