document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1179376>Question 1179376</A>: <I><SPAN STYLE=\"word-break: break-all;\"> Ten corporate $1,000 bonds quoted at 100 3/4 were purchased.  If a $12 brokerage fee was paid per bond, what is the total cost. </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #850240 by </B><A HREF=/tutors/aboutme.mpl?userid=CPhill><B>CPhill(1959)</B></A><img src=\"/images/stars/stars-12.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=CPhill><IMG SRC=http://www.algebra.com/images/aboutme-small.gif BORDER=0 alt=\"About Me\" VALIGN=MIDDLE></A>&nbsp;<IMG SRC=http://www.algebra.com/cgi-bin/show-face.mpl?user=CPhill><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=850240\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> Here's how to calculate the total cost:\r<BR>\n" );
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document.write( "1.  **Bond Price:**<BR>\n" );
document.write( "    * A quote of 100 3/4 means 100.75% of the bond's face value.<BR>\n" );
document.write( "    * Since the bonds are $1,000 bonds, the price per bond is 100.75% of $1,000, which is $1,007.50.\r<BR>\n" );
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document.write( "2.  **Total Bond Cost:**<BR>\n" );
document.write( "    * 10 bonds * $1,007.50/bond = $10,075.00\r<BR>\n" );
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document.write( "3.  **Total Brokerage Fees:**<BR>\n" );
document.write( "    * 10 bonds * $12/bond = $120.00\r<BR>\n" );
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document.write( "4.  **Total Cost:**<BR>\n" );
document.write( "    * $10,075.00 + $120.00 = $10,195.00\r<BR>\n" );
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document.write( "**Therefore, the total cost is $10,195.00.**<BR>\n" );
document.write( " </SPAN>\n" );
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