What price was quoted to an investor who paid $982.50 for a $1,000 par value bond?

Name: What price was quoted to an investor who paid $982.50 for a $1,000 par value bond?
Brand: Quizplus
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Question

Quizplus · Accepted Answer

The price of the bond can be found by dividing the amount paid by the par value:

Price of bond = Amount paid / Par value
Price of bond = $982.50 / $1,000
Price of bond = 0.9825 or 98.25%

Therefore, the price quoted to the investor was 98.25% of the par value, which matches option C.

What Price Was Quoted to an Investor Who Paid $982