Answer:
Clean price of the bond = $1,039.08
Explanation:
Given:
Invoice price = $1,043
Par value = $1,000
Number of month = 5
Coupon rate = 4.7%
Find:
Clean price of the bond
Computation:
Interest accrued = [1,000][4.7%][1/12]
Interest accrued = $3.92
Clean price of the bond = $1,043 - $3.92
Clean price of the bond = $1,039.08