If $1,134,000 of 11% bonds are issued at 102 1/2, the amount of cash received from the sale is   a. $1,162,350   b. $1,258,740   c. $850,500   d. $1,134,000

Brief Principles of Macroeconomics (MindTap Course List)
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ISBN:9781337091985
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter9: The Basic Tools Of Finance
Section: Chapter Questions
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If $1,134,000 of 11% bonds are issued at 102 1/2, the amount of cash received from the sale is

 

a. $1,162,350

 

b. $1,258,740

 

c. $850,500

 

d. $1,134,000

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