A $1,000 bond, with interest at 8 ½% on January 1 and July 1, was purchased on September 30 at 97 plus accrued interest. Compute the entire purchase cost of the bond. (Assume a 360-day year and a commission of $5 per bond.)

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The Answer of A $1,000 bond, with interest at 8 ½% on January 1 and July 1, was purchased on September 30 at 97 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 January