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Determining the actual convention

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Mark purchased a corporate bond with the settlement date on October 15 with the face value of $1000 and the coupon rate 9.63%, that has a listed price of 103.586 and that pays interest semiannually on February 15 and August 15. Accrued interest is determined using actual/actual convention. How much must Mark pay for the bond?

Reference no: EM131533975

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