Bonds with a face value of $400,000 and a quoted price of 104¼ have a selling price of
A) $417,000.
B) $416,100.
C) $401,700.
D) $416,000.

Name: Bonds with a face value of $400,000 and a quoted price of 104¼ have a selling price of A) $417,000. B) $416,100. C) $401,700. D) $416,000.
Brand: Quizplus
Rating: 4.8 (35 reviews)

Question

Quizplus · Accepted Answer

The selling price of the bonds is the face value multiplied by the quoted price. The quoted price is 104¼, which is 104.25. Therefore, the selling price is $400,000 x 104.25 = $417,000.

Bonds with a Face Value of $400,000 and a Quoted