A bond with a face value of $20,000 has a current price quote of 102.62.The price in dollars and cents is
A) $20,005.24.
B) $20,401.24.
C) $20,052.40.
D) $20,524.00.

Name: A bond with a face value of $20,000 has a current price quote of 102.62.The price in dollars and cents is A) $20,005.24. B) $20,401.24. C) $20,052.40. D) $20,524.00.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

The price quote of 102.62 means the bond is priced at 102.62% of its face value. Therefore, the price in dollars is 102.62% of $20,000, which is $20,524.00.

A Bond with a Face Value of $20,000 Has a Current