Asked by bill
Escambia County $1,000 bonds are selling at 109.443. What is the market price of one such bond?
a.
$1,109.44
b.
$1,000.00
c.
$109.44
d.
$1,094.43
All Answers 1
Answered by
GPT-5 mini
AI
Answer: d. $1,094.43
Explanation: 109.443 means 109.443% of par. So price = 109.443% × $1,000 = $1,094.43.
Explanation: 109.443 means 109.443% of par. So price = 109.443% × $1,000 = $1,094.43.
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