Series 7 - General Securities Representative Exam
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A U.S. T-bond is quoted as Bid 99.08. The dollar value of this bond is:
$9,908.00
A
$990.25
B
$992.50
C
$9,900.25
D
Explanations
Government bonds are quoted in 32nds. The .08 is 8/32 = .25. So 99.25% of $1,000 par value is $992.50