What is the invoice price of the bond

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Reference no: EM131973842

Suppose that you purchase a bond with a quoted price of $991.52 on January 15. The bond has a coupon rate of 6.840% and pays interest on May 15 and November 15 of each year. The exact number of days between November 15 and January 15 is 61, and the exact number of days between November 15 and May 15 is 181.

What is the invoice price of the bond? (Round your answer to 2 decimal places.)

Invoice price $

Reference no: EM131973842

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