Invoice price of the bond


Problem:

A government bond with a coupon rate of 4% makes semiannual coupon payments on January 11 and July 11 of each year. The Wall Street Journal reports the asked price for the bond on January 26 at 100:15.

Required:

Question: What is the invoice price of the bond? The coupon period has 182 days.

Note: Please provide reasons to support your answer.

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Accounting Basics: Invoice price of the bond
Reference No:- TGS0884467

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