What is 6.8784 rounded to the nearest thousandth?
1 answer:
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Answer:
The total cost of the bond is none of the given choices.
Step-by-step explanation:
The selling price of a $1000 bond = $99.875
The brokerage fee = 5.5 %
Now, 5.5% of $99.875 =
So, the brokerage fee = $5.493
Now, to find out the total cost of the bond:
Total Cost = The selling Price + Brokerage Price
= $99.875 + $5.493
= $105.368
or, the total price of the $1000 bond is $ 105.368.
Hence, the total cost of the bond is none of the given choices.