You purchase 10 bonds with a coupon rate of 9 and a current market price of 101.125. The commission charge is 5.00 per bond. The date of the transaction is October 1, and the bond pays interest on January 1 and July 1. What is your total purchase price?
A) 10,392.50
B) 10,387.50
C) 10,395.10
D) 10,391.90
Question 2
Jimmy wants to pay off a personal debt. He took out a loan for 2,750 with his credit union, at 8.05 interest, for 1.5 years. What is the maturity value of Jimmy's loan? (Round to the nearest cent)
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