Problem:
You want to buy a bond that has a quoted price of $923. The bond pays interest semiannually on April 1 and October 1. The coupon rate is 6 percent.
Requirement:
Question: What is the clean price of this bond if today's date is June 1? Assume a 360-day year.
- $927.62
- $923.00
- $923.23
- $936.85
- $1,076.83
Note: Please provide full description.