Business math question

Question

Claire Hummell bought 2 Hecht Company (HCO) bonds maturing in 2032. According to the bond table, the last price is listed as 98.375. With a sales commission of $1 per bond, find the total purchase price.

Group of answer choices

$1,965.50

$1,969.50

$1,967.50

$1,016.25

Answer 1

Total cost of transaction = Face Value*Current price*No of Purchase/100

=1000*98.375*2/100

= $1,967.50

+ $1 each sales commission = $2

Answer: $1,969.50