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A $1,000 Face Value,120-Day Bond Is Quoted at a Bank

Question 36

Multiple Choice

A $1,000 face value,120-day bond is quoted at a bank discount yield of 3.38 percent.What is the current bond price?

A) $957.60
B) $960.09
C) $974.18
D) $982.02
E) $988.73

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