Question

A bond quoted at 93 (1/8) is equal to ___ per 1,000.00 of the face amount.

Answer 1

Answer:

$931.25

Step-by-step explanation:

Given a bond is quoted at $93\frac{1}{8}$

let the Face value of the amount = $1000

therefore, the price/cost = $\frac{93.125}{1000}\times100$

= $931.25

Therefore, the bond quoted at $93\frac{1}{8}$ is equal to $931.25 per 1000 of the face value.

Hope you got the point, feel free to ask doubts

Answer 2

The number a bond is the percentage of the value of the bond that the bond is worth. Because the bond is quoted at 93, the bond is worth $930 per $1,000.