Calculating the invoice price of the bond

Reference no: EM131964230

Question: A coupon bond paying semiannual interest is reported as having an ask price of 125% of its $1,000 par value. The last interest payment was made 30 days ago and the coupon period has 182 days. If the coupon rate is 5%, what is the invoice price of the bond? (Do not round intermediate calculations. Round your answer to 2 decimal places.)

Reference no: EM131964230

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