Problem:
You purchase a bond with a coupon rate of 4.7 percent and a clean price of $1,140. If the next semiannual coupon payment is due in two months,
Required:
Question: What is the invoice price?
- $1,119.67
- $1,155.67
- $1,135.33
- $1,209.24
Note: Please explain comprehensively and give step by step solution.