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 bond was sold for $1,045.63, which is higher than its par value of $1,000. Therefore, the bond was sold at a premium. The price reported in the financial press would be the bond's market price or quoted price. To calculate this, we divide the bond's selling price by its par value and multiply by 100. 
Market price = (selling price / par value) x 100
Market price = ($1,045.63 / $1,000) x 100
Market price = 104.563 or 104:18

What Price Was Reported in the Financial Press for a Bond