You purchase a bond with an invoice price of $1,120.The bond has a coupon rate of 8.5 percent,semiannual coupons,and there are three months to the next coupon date.What is the clean price of the bond?
A) $1,086.35
B) $1,098.75
C) $1,105.20
D) $1,132.50
E) $1,157.50
Correct Answer:
Verified
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