A 10-year 4 3/4% Treasury Note is quoted at 95-11 - 95-15. The note pays interest on Jan 1st. and Jul. 1st. A customer buys 10M of the notes. Approximately how much will the customer pay, disregarding commissions and accrued interest?

The customer will pay, disregarding commissions and accrued interest $9,546.88 .

Explanation:

According to the given data we have that A customer buys 10M of the notes "10 M" means that the customer is buying $10,000 par value of the notes-

The Treasury Note is quoted at 95-11 - 95-15

In this case A customer will buy at ask price, which is 95 and 15/32 nds = 95.46875%

Therefore, 95.46875% of $10,000 par = $9,546.88

The customer will pay, disregarding commissions and accrued interest $9,546.88 .

answer; post closing trial balance;