Shannon is purchasing a government bond with a par value of $800 and a price quote of 101.524%. What is the price of the bond?

Question

Shannon is purchasing a government bond with a par value of $800 and a price quote of 101.524%. What is the price of the bond?

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Thu Giang 4 years 2021-09-05T07:17:15+00:00 1 Answers 11 views 0

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  1. Cherry
    0
    2021-09-05T07:18:40+00:00
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    Answer: $812.192

    Step-by-step explanation:

    The price of the bond will be gotten by multiplying the par value by the price quote. This will be:

    Price of bond = Par value × Price quote

    Price of bond = $800 × 101.524%

    Price of bond = $800 × 1.01524

    Price of bond = $812.192

    Therefore, the price of the bond is $812.192.

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