Multiple Choice Question

Bond market values are expressed as a percentage of their par $($face$)$ value. For example, a company's bonds might be trading at $103,$ which means that they car

be bought or sold for

of their par value.

$103\%$

$100\mathrm{.}3\%$

$0\mathrm{.}103\%$

$10\mathrm{.}3\%$