chloemcilroy420
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CORRECT ANSWER GETS BRAINLIEST!!!!!

Calculate the closing price of a bond that has a face value of $1,000 and is closing at
101 7 8 percent of the face value.
O $1001.78.
O $1000.75.
O $1018.75.

Respuesta :

tlsteph0205

Answer: C 1,018.75

Explanation:

Here ill help yall.

C

C

A

C

C

C

B

D

B

C

100%

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Business Management II B

netlarue98

Answer:

$1,018.75

Explanation:

How to Calculate the price of a bond

1. Locate the percent of $1,000 that the bond was selling for at the close of the day.

1.01875 (to get this amount in this question, 7/8 = 0.875, then add to 101 = 101.875. Multiply 101.875 * 100 = 1.01875.)

2. Multiply the decimal equivalent of the percent by $1,000.

$1000 * 1.01875 = $1,018.75

3. Round the product to the nearest cent, if necessary.

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