Question

If a $1,000 bond is selling for 97, what is the selling price in dollars

Answer 1

The Answer for this question is $970

Answer 2

Answer:

$ 970

Explanation:

A $1,000 bond with a selling price of 97 means the selling price of the bond is 97 % of the face value or original price.

In this case:

Original = $ 1 000

Selling   = 97

             = 0.97

The value = 0.97 × 1000

                = $ 970