Ask price=105% of par value which is $1,000.
So, ask price=$1,000*105%=$1,050
Last interest payment=150 days ago and coupon period=182 days.
Coupon rate=8.6%
So, accrued interest=$1,000*8.6%*150/182=$70.8791
So, invoice price=$(1,050+70.8791)=$1,120.8791 rounded off to $1,120.88.
Question 10 A coupon bond paying semiannual interest has an ask price quote of 105% of...
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