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galina1969 [7]
3 years ago
8

Consider the following three bond quotes: a Treasury bond quoted at 106:30, a corporate bond quoted at 96.25, and a municipal bo

nd quoted at 100.65. If the Treasury and corporate bonds have a par value of $1,000 and the municipal bond has a par value of $5,000, what is the price of these three bonds in dollars?
2 decimal places

Treasury ?

Corporate bond?

Municipal Bond?
Mathematics
1 answer:
boyakko [2]3 years ago
5 0

Answer:

The value of Treasury bond in dollars = $1,069.38

The value of Corporate bond in dollars = $962.50

The value of Municipal bond in dollars = $5,032.50

Step-by-step explanation:

Data provided in the question:

Treasury bond quoted at 106:30

corporate bond quoted at 96.25

municipal bond quoted at 100.65

Treasury bonds have a par value = $1,000

corporate bonds have a par value = $1,000

municipal bond has a par value = $5,000

Now,

The value of Treasury bond in dollars = (106+\frac{30}{32})\% × $1,000

= 106.9375% × $1,000

= $1,069.38

The value of Corporate bond in dollars = 96.25% × $1,000

= 0.9625 × $1,000

= $962.50

The value of Municipal bond in dollars = 100.65% × $5,000

= 1.0065 × $5,000

= $5,032.50

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