A bond is quoted at 102.816. This would mean that a $1,000 par value bond would be selling at what price?

Name: A bond is quoted at 102.816. This would mean that a $1,000 par value bond would be selling at what price?
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Question

Quizplus · Accepted Answer

When a bond is quoted at 102.816, it means it is selling for 102.816% of its par value. Therefore, a $1,000 par value bond would be selling for $1,028.16 (102.816% of $1,000).

A Bond Is Quoted at 102