10
QuizMultiple Choice

Buying Bonds

Question 10 • 26-27 Ignite Financial Literacy Personal Finance - EL3403

Your broker charges you 2.5% commission on the market value of bonds you buy or sell. If you wish to buy a par value $1,000 bond from Cuyahoga County with a market rate of 86.681, approximately how much will you owe your broker?

Answer
A
$25.00
B
$21.67
C
$89.18
D
$27.17
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