Coupon bond paying semiannual interest

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A coupon bond paying semiannual interest is reported as having an ask price of 119% of its $1,000 par value. If the last interest payment was made one month ago and the coupon rate is 5%, what is the invoice price of the bond? Assume that the month has 30 days. (Do not round intermediate calculations. Round your answer to 2 decimal places.) Invoice price

Reference no: EM132003031

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