If Five bonds were purchased yesterday, and 5 bonds were purchased today. How much more that the 5 bonds cost today is: $75.
Cost of bonds today
Using this formula
Bond Yield =Total annual interest of bond / Total current cost of bond at closing
First step is to calculate the Closing bonds
Closing bonds=(96.875 x 10)× 5 bonds
Closing bonds= $968.75 × 5 bonds
Closing bonds= $4,843.75
Second step is to calculate the Next day cost of bonds
Next day cost of bonds=[(96.875 + 1.50) x 10]× 5 bonds
Next day cost of bonds = $983.75 × 5 bonds
Next day cost of bonds= $4,918.75
Third step is to calculate the Cost of bonds today
Cost of bonds today=$4,918.75 - $4,843.75
Cost of bonds today = $75
Therefore If Five bonds were purchased yesterday, and 5 bonds were purchased today. How much more that the 5 bonds cost today is: $75.
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