A $1,000 bond, with interest at 9% on March 1 and September 1, was sold on October 30 at 105 plus accrued interest. Compute the dollar amount of the sale the seller received. (Assume a 360-day year and a commission of $5 per bond.)

Question

A $1,000 bond, with interest at 9% on March 1 and September 1, was sold on October 30 at 105 plus accrued interest. Compute the dollar amount of the sale the seller received. (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 9% on March 1 and September 1, was sold on October 30 at 105 plus accrued interest. Compute the dollar amount of the sale the seller received. (Assume a 360-day year and a commission of $5 per bond.)​

A $1,000 Bond, with Interest at 9% on March 1