Author Question: You purchase 30 bonds with a coupon rate of 5.875 and a current market price of 89. The commission ... (Read 170 times)

rl · **on:** Jun 24, 2018

You purchase 30 bonds with a coupon rate of 5.875 and a current market price of 89. The commission charge is 15.00 per bond. The date of the transaction is September 1, and the bond pays interest on January 1 and July 1. What is your total purchase price?
A) 27,200.00
B) 27,443.75
C) 27,800.00
D) 27,791.60

Question 2

Patty wants to pay off a medical bill. He took out a loan for 1,250 with his credit union, at 6.25 interest, for 2.5 years. What is the amount of interest on Patty's loan? (Round to the nearest cent)