Bonds with a face value of $300,000 and a quoted price of 102¼ have a selling price of
A) $360,675.
B) $306,075.
C) $300,675.
D) $306,750.

Name: Bonds with a face value of $300,000 and a quoted price of 102¼ have a selling price of A) $360,675. B) $306,075. C) $300,675. D) $306,750.
Brand: Quizplus
Rating: 4.8 (37 reviews)

Question

Quizplus · Accepted Answer

The quoted price of 102¼ means 102.25% of the face value. Therefore, the selling price is 102.25% of $300,000, which is $306,750.

Bonds with a Face Value of $300,000 and a Quoted