Find the cost, including a sales charge of $1 per bond, for the transaction.
-Bond: BLT
Last Price: 97.375
Number Purchased: 67

Question

Quizplus · Accepted Answer

The cost of the transaction is calculated by multiplying the last price of the bond by the number of bonds purchased and then adding the sales charge for each bond. The last price of the bond is 97.375, and 67 bonds are purchased. Therefore, the cost before the sales charge is 97.375 * 67 = $6,524.125. Since there is a $1 sales charge per bond, the total sales charge is 67 * $1 = $67. Adding this to the initial cost gives $6,524.125 + $67 = $6,531.125, or $65,308.25 when rounded to the nearest cent.

Find the Cost, Including a Sales Charge of $1 Per