What price was reported in the financial press for a bond that was sold to an investor for $1,045.63?

Question

Quizplus · Accepted Answer

The price reported in the financial press is typically the bond's market price. To find the market price, we need to divide the sale price by the face value of the bond (usually $1,000) and multiply by 100 to get a percentage. Therefore, Market price = (Sale price / Face value) x 100 = ($1,045.63 / $1,000) x 100 = 104.563%. The closest answer choice to 104.563% is C, 104.563.

What Price Was Reported in the Financial Press for a Bond