Step-by-step explanation:
To determine how much you would pay for the bond at the quoted price of 98.25, you need to calculate it as a percentage of the par value:
[tex]\[ \text{Price Paid} = \text{Quoted Price} \times \text{Par Value} \][/tex]
Given:
- Quoted Price = 98.25% (as a decimal, this is 0.9825)
- Par Value = $51,000
Now, calculate:
[tex]\[ \text{Price Paid} = 0.9825 \times 51,000 \][/tex]
[tex]\[ \text{Price Paid} = 50,182.50 \][/tex]
Therefore, the amount you would pay for the bond at the quoted price of 98.25 is $50,182.50.
So, none of the provided options exactly matches the calculated amount. The closest approximation would be around $50,182.50, which isn't listed among the options given.