Question: A highly rated corporate bond with five years left until maturity was recently quoted as selling for 103.272 . The bond's par value is $1

A highly rated corporate bond with five years left until maturity was recently quoted as selling for 103.272 . The bond's par value is $1 comma 000 , and its initial interest rate was 9.58 percent.

If this bond pays interest every six months and it has been four months since interest was last paid, how much would you be required to pay for the bond?

f this bond pays interest every six months, and it has been four months since interest was last paid, you would be required to pay $nothing . (Round to the nearest cent.)

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