The coupon rate on the bond is 550 and the coupon payment


GM's coupon bond, which pays semiannual interest (182 days in the coupon period), has an ask price of 121.50% of its $1,000.00 par value. The coupon rate on the bond is 5.50% and the coupon payment was made one month ago (30 days). What is the invoice price of the bond? (Do not round intermediate calculations. Round your answer to 2 decimal places.)

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Financial Management: The coupon rate on the bond is 550 and the coupon payment
Reference No:- TGS02784474

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