Multiple choice question A bond with a face value of $200,000 and a quoted price of...
Multiple choice question
A bond with a face value of $200,000 and a quoted price of 102⅛ has a selling price of
| A | $240,225 |
| B | $204,025 |
| C | $200,225 |
| D | $204,250 |
Homework Answers
1/8 = 0.125
Therefore quote price corresponds to 102.125% (102+0.125).
Quote price of bonds take the past value of the bond as it's base. So when a bond is said to have a quote price of 102.125%, the selling price can be calculated by multiplying the quote price percentage with the past value of the bond, to be $204025 (200000*102.125%).
Option B $204025 is the correct answer.
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