Bond prices in the newspaper or online are quoted as a percentage of their face value of $1,000. If the bond price is 103.25, this bond's value is equal to

Name: Bond prices in the newspaper or online are quoted as a percentage of their face value of $1,000. If the bond price is 103.25, this bond's value is equal to
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When bond prices are quoted as 103.25, it means 103.25% of the face value, which is $1,000. Therefore, the bond's value is $1,032.50 (103.25% of $1,000).

Bond Prices in the Newspaper or Online Are Quoted as a Percentage