You purchase 10 bonds with a coupon rate of 9% and a current market price of 101.125. The commission charge is $5.00 per bond. The date of the transaction is October 1, and the bond pays interest on January 1 and July 1. What is your total purchase price?
A) $10,392.50
B) $10,387.50
C) $10,395.10
D) $10,391.90
B
Business
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