Determine how mcuh must broker remit for the purchase

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Reference no: EM13333132

A bond matures in 2020 and has an annual coupon of 3.65 percent, payable on January 1 and July 1. The current price of the $1,000 bind if $978. On February 1, you purchase $10,000 face amount, and your broker charges a $25 commission. How mcuh must you remit for the purchase?

Reference no: EM13333132

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