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OpenStudy (anonymous):
Find the selling price of a $1,000 bond if the quoted price is 97.
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OpenStudy (anonymous):
97 what?
OpenStudy (anonymous):
just 97
OpenStudy (anonymous):
Hmmmm......I assume it is 97 cents per dollar. Then, the selling price will be $970.
OpenStudy (anonymous):
do you multiply?
OpenStudy (anonymous):
Yes. 0.97 times 1000.
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OpenStudy (anonymous):
Thank you! :)
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