Barry Allen has recently started a job at an investment firm. He prides himself in being the fastest bond trader alive. However, yesterday he only was able to make 20 trades and only traded 583 bonds. The bid price for the bonds was $1069.1 while the ask price was $1111.1. What was Barry's gross trading profit for these trades?
Added by Michelle R.
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Step 1
To calculate the total cost of buying the bonds, we need to multiply the number of bonds traded (583) by the ask price ($1111.1). Total cost = 583 * $1111.1 = $647,111.30 Show more…
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