A $1000 bond with a redemption date of February 1,2024 is purchased on October 7,2010.The quoted price,q,is 104.25.The bond is redeemable at par and pays interest at j2 = 11%.What is the purchase price (full or dirty price) of the bond?
A) $1022.47
B) $1042.50
C) $1060.83
D) $1062.53
Correct Answer:
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