<u>Answer:</u>
None of these choices are correct.
The total price of the $1000 bond is $105.37 (rounded to nearest cent)
<u>Explanation:</u>
Give the selling price of a $1000 bond = $99.875
According to question, Brokerage fee = 5.5% of $99.875
![5.5 \% \text { of } \$ 99.875=\frac{5.5}{100} \times 99.875=\$ 5.493](https://tex.z-dn.net/?f=5.5%20%5C%25%20%5Ctext%20%7B%20of%20%7D%20%5C%24%2099.875%3D%5Cfrac%7B5.5%7D%7B100%7D%20%5Ctimes%2099.875%3D%5C%24%205.493)
Total Cost of the bond is calculated by the formula,
Total Cost = The selling Price + Brokerage Fee
Total Cost = $99.875 + $5.493
Therefore Total cost =$ 105.368
or, the total price of the $1000 bond is $105.37 (rounded to nearest cent)