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Answer :
Final answer:
The selling price of bonds with a face value of $744,000 and a quoted price of 98.5% is $732,840.
Explanation:
The selling price of bonds with a face value of $744,000 and a quoted price of 98.5 is calculated by multiplying the face value by the quoted price percentage. The quoted price of 98.5 means the bonds are sold at 98.5% of their face value. Therefore, the calculation for the selling price is $744,000 × 0.985, which gives us the result.
To determine the selling price, we perform the following calculation:
- Selling Price = Face Value × (Quoted Price / 100)
- Selling Price = $744,000 × (98.5 / 100)
- Selling Price = $744,000 × 0.985
- Selling Price = $732,840
Thus, the selling price of the bonds is $732,840.
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