Trading & Markets第 103 / 125 题
When a bond is quoted at '98', the price the investor pays (excluding accrued interest) on a $1,000 par bond is:
a.$98
b.$9,800
c.$980
d.$1,098
解析
Corporate bonds are quoted as a percentage of par, so a quote of 98 means 98% of $1,000 par, or $980. The investor would also pay any accrued interest since the last coupon date in a regular-way purchase.
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