Asked by Taryn

The dollar price of a $1,000.00 face value bond is 991.25. This bond is listed at _______.
A. 99 2/5
B. 99 12/5
C. 99 1/2
D. 99 1/8
Answered by snikkilisa
99 1/8. 1/8 is the fraction version of .125, so with 991.25, you have to move the decimal point to the right so the last number is in the thousandth place. 99.125 then convert the .125 to a fraction.
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