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QUESTION
You are planning on buying $100,000 face value of Australian Commonwealth Government Bonds. The bonds mature on 15 February 2022 and have a coupon...
You are planning on buying $100,000 face value of Australian Commonwealth Government Bonds. The bonds mature on 15 February 2022 and have a coupon rate of 4.75%. If your purchase will settle on 27 April 2012, and the quoted yield for the bond is 5.79%, what is the cash price of the bonds to the nearest dollar?
