A bond with a face value of $200,000 and a quoted price of 102¼ has a selling price of

Name: A bond with a face value of $200,000 and a quoted price of 102¼ has a selling price of
Brand: Quizplus
Rating: 4.8 (44 reviews)

Question

Quizplus · Accepted Answer

First, convert the quoted price to a percentage:
102 1/4% = 102.25%
Then, calculate the selling price:
Selling price = Face value x Quoted price/100
Selling price = $200,000 x 102.25%/100
Selling price = $204,500
Therefore, the correct answer is D) $204,500.

A Bond with a Face Value of $200,000 and a Quoted