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kirill [66]
2 years ago
9

A corporate bond was quoted yesterday at 102.16 while today's quote is 102.19. What is the change in the value of a bond that ha

s a face value of $3,000?
Business
1 answer:
Lostsunrise [7]2 years ago
6 0

Answer:

The change in the value of the bond is $0.90. In other words, the value of the bond has increased by $0.90 from yesterday to today.

Explanation:

We have Value of the bond = Quoted value / 100 * face value

So,

Yesterday value of the bond = 102.16/100 * 3,000 = $3064.8;

Today value of the bond = 102.19/100 * 3,000 = $3065.7.

=> Change in the value of the bond = Today value of the bond - Yesterday value of the bond = $3065.7 - $3064.8 = $0.90.

In other words, the value of the bond has increased by $0.9 from yesterday to today.

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