Find the cost of twelve $1,000 bonds at a quotation of 84.50

Question

Mathematics

Lawrence

19 February, 17:36

Find the cost of twelve $1,000 bonds at a quotation of 84.50

+3

Answers (1)

Know the Answer?

Memphis Herrera · Answer 1

What we have so far:*12 bonds*1 bond = $1,000*Quotation of 84.50% per bond ($845 each).

What to find:*QT - Quotation Total. QT = (12 x $1,000) x Quotation*TC - Total Cost. TC = (12 x $1,000) + QT

Solution:Finding QT:QT = (12 x $1,000) x QuotationQT = (12 x $1,000) x 84.50%QT = $12,000 x 84.50%QT = $10,140

Finding TC:TC = (12 x $1,000) + QTTC = (12 x $1,000) + $10,140TC = $12,000 + $10,140TC = $22,140 < - - - What we are looking for.

Therefore, the total cost of twelve $1,000 bonds at a quotation of 84.50% is: $22,140.