3
QuizMultiple Choice

Buying Bonds

Question 3 • 26-27 Ignite Financial Literacy Personal Finance - EL3403

Bonds worth $1,000 issued by the Dowc Beverage Co. are selling at 91.760. How much would you have to pay for seven such bonds?

Answer
A
$764.23
B
$7,642.32
C
$7,000.00
D
$6,423.20

Explanation

A bond selling at 91.760 costs 91.760% of its $1,000 face value: $1,000 × 0.91760 = $917.60 per bond. For seven bonds, $917.60 × 7 = $6,423.20, so the correct choice is $6,423.20.

AI-written and checked against the verified answer.

Previous
Next