A $1,000 bond, with interest at 8 ½% on March 1 and September 1, was purchased on June 18 at 108 plus accrued interest. Compute the entire purchase cost of the bond. (Assume a 360-day year and a commission of $5 per bond.)

Question

​A $1,000 bond, with interest at 8 ½% on March 1 and September 1, was purchased on June 18 at 108 plus accrued interest. Compute the entire purchase cost of the bond. (Assume a 360-day year and a commission of $5 per bond.)

Quizplus · Accepted Answer

The Answer of ​A $1,000 bond, with interest at 8 ½% on March 1 and September 1, was purchased on June 18 at 108 plus accrued interest. Compute the entire purchase cost of the bond. (Assume a 360-day year and a commission of $5 per bond.)

​A $1,000 Bond, with Interest at 8 ½% on March

A $1,000 Bond, with Interest at 8 ½% on March