What is the invoice price of bond

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Reference no: EM131990604

A Focus bond has a coupon rate of 6.00% and makes semiannual coupon payments on January 15 and July 15 of each year. The Wall Street Journal reports the ask price for the bond on January 30 at 100:02. What is the invoice price of the bond? The coupon period has 182 days. Note: A bond quote with semi-colon ":", such as XXX:YY, should be read as (XXX+(YY/32))% of par value (Do not round intermediate calculations. Round your answer to 2 decimal places.)

Reference no: EM131990604

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