bonds worth $1,000 issued by the dowc beverage co. are selling at 91.760. how much would you have to pay for…

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?\na. $764.23\nb. $7,642.32\nc. $7,000.00\nd. $6,423.20

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?\na. $764.23\nb. $7,642.32\nc. $7,000.00\nd. $6,423.20

Answer

Explanation:

Step1: Find price of one bond

The bonds are selling at 91.760% of their face - value. The face - value of one bond is $1000. So the price of one bond is $1000\times0.91760 = 917.60$.

Step2: Find price of seven bonds

To find the price of seven bonds, multiply the price of one bond by 7. So $917.60\times7=6423.20$.

Answer:

d. $6,423.20