A $2,000 bond was purchased between bond coupon dates for a purchase price (full price)of $2500.29.The accrued interest on the date of sale was $53.70.What is the market quote per $100 (q)on the date of sale?

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Quizplus · Accepted Answer

The market quote per $100 (q) is calculated by taking the purchase price minus the accrued interest, then dividing by the face value of the bond, and finally multiplying by 100. In this case, the calculation is (($2500.29 - $53.70) / $2000) * 100 = 122.33.

A $2,000 Bond Was Purchased Between Bond Coupon Dates for a Purchase