Buying Bonds Answers

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Read the excerpt from Act III of The Importance of Being Earnest.Lady Bracknell. [With a shiver, crossing to the sofa and sitting down.] I do not know whether there is anything peculiarly exciting in the air of this particular part of Hertfordshire, but the number of engagements that go on seems to me considerably above the proper average that statistics have laid down for our guidance.

Read the excerpt from Act III of The Importance of Being Earnest.Jack. Miss Cardew’s family solicitors are Messrs. Markby, Markby, and Markby.Lady Bracknell. Markby, Markby, and Markby? A firm of the very highest position in their profession. Indeed I am told that one of the Mr. Markby’s is occasionally to be seen at dinner parties. So far I am satisfied.

Read the excerpt from Act III of The Importance of Being Earnest.Jack. [In a clear, cold voice.] Miss Cardew is the grand-daughter of the late Mr. Thomas Cardew of 149 Belgrave Square, S.W.; Gervase Park, Dorking, Surrey; and the Sporran, Fifeshire, N.B.Lady Bracknell. That sounds not unsatisfactory. Three addresses always inspire confidence, even in tradesmen. But what proof have I of their authenticity?Jack. I have carefully preserved the Court Guides of the period. They are open to your inspection, Lady Bracknell.Lady Bracknell. [Grimly.] I have known strange errors in that publication.Jack. Miss Cardew’s family solicitors are Messrs. Markby, Markby, and Markby.Lady Bracknell. Markby, Markby, and Markby? A firm of the very highest position in their profession. Indeed I am told that one of the Mr. Markby’s is occasionally to be seen at dinner parties. So far I am satisfied.

Read the excerpt from Act III of The Importance of Being Earnest.Lady Bracknell. [Sitting down again.] A moment, Mr. Worthing. A hundred and thirty thousand pounds! And in the Funds! Miss Cardew seems to me a most attractive young lady, now that I look at her. Few girls of the present day have any really solid qualities, any of the qualities that last, and improve with time. We live, I regret to say, in an age of surfaces. [To Cecily.] Come over here, dear. [Cecily goes across.] Pretty child! your dress is sadly simple, and your hair seems almost as Nature might have left it. But we can soon alter all that. A thoroughly experienced French maid produces a really marvellous result in a very brief space of time. I remember recommending one to young Lady Lancing, and after three months her own husband did not know her.

Read the excerpt from Act III of The Importance of Being Earnest.Lady Bracknell. There are distinct social possibilities in Miss Cardew’s profile.Algernon. Cecily is the sweetest, dearest, prettiest girl in the whole world. And I don’t care twopence about social possibilities.

Read the excerpt from Act III of The Importance of Being Earnest.Jack. I fear there can be no possible doubt about the matter. This afternoon during my temporary absence in London on an important question of romance, he obtained admission to my house by means of the false pretence of being my brother. Under an assumed name he drank, I’ve just been informed by my butler, an entire pint bottle of my Perrier-Jouet, Brut, ’89; wine I was specially reserving for myself. Continuing his disgraceful deception, he succeeded in the course of the afternoon in alienating the affections of my only ward. He subsequently stayed to tea, and devoured every single muffin. And what makes his conduct all the more heartless is, that he was perfectly well aware from the first that I have no brother, that I never had a brother, and that I don’t intend to have a brother, not even of any kind. I distinctly told him so myself yesterday afternoon.

Read the excerpt from Act III of The Importance of Being Earnest.Jack. That is very generous of you, Lady Bracknell. My own decision, however, is unalterable. I decline to give my consent.Lady Bracknell. [To Cecily.] Come here, sweet child. [Cecily goes over.] How old are you, dear?Cecily. Well, I am really only eighteen, but I always admit to twenty when I go to evening parties.Lady Bracknell. You are perfectly right in making some slight alteration. Indeed, no woman should ever be quite accurate about her age. It looks so calculating . . . [In a meditative manner.] Eighteen, but admitting to twenty at evening parties. Well, it will not be very long before you are of age and free from the restraints of tutelage. So I don’t think your guardian’s consent is, after all, a matter of any importance.Jack. Pray excuse me, Lady Bracknell, for interrupting you again, but it is only fair to tell you that according to the terms of her grandfather’s will Miss Cardew does not come legally of age till she is thirty-five.

Read the excerpt from Act III of The Importance of Being Earnest.Jack. [In a pathetic voice.] Miss Prism, more is restored to you than this hand-bag. I was the baby you placed in it.Miss Prism. [Amazed.] You?Jack. [Embracing her.] Yes . . . mother!Miss Prism. [Recoiling in indignant astonishment.] Mr. Worthing! I am unmarried!

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Timothy periodically purchases bonds issued by Prince Waste Collection. Last year, he bought two bonds in February, two bonds in June, and one bond in August, then sold them all in October. Prince Waste Collection bonds were selling at 94.593 in February, 92.661 in June, 105.480 in August, and 102.882 in October. If each bond that Timothy bought had a par value of $1,000, how much profit did he make from buying and selling these bonds?

Jim wants to start investing in bonds. He checks with two brokers to ask them for suggestions of bonds to buy. Broker J, who charges a commission of 3.6% of the market value of all bonds sold, recommends for Jim to buy three par value $500 bonds from the city of Danville, a par value $1,000 bond from Raxin Accounting, and two par value $1,000 bonds from United Rotators. Danville bonds are selling at 114.212, Raxin Accounting bonds are selling at 79.941, and United Rotators bonds are selling at 102.844. Broker K, who charges a fee of $28 for each bond sold, recommends that Jim buy five par value $500 bonds from Fort Bend County, a par value $1,000 bond from the U.S. Treasury, and two par value $500 bonds from Iwad Records. Fort Bend bonds are selling at 91.090, Treasury bonds are selling at 101.163, and Iwad Records bonds are selling at 107.252. Based on the current information, which broker’s bond package will cost Jim less money up front, and how much less will it cost him?

Pierce wishes to purchase a municipal bond with a par value of $500 from Chattahoochee County, and he is trying to decide which broker he should employ to purchase the bond. Broker A charges a 3.1% commission on the market value of each bond sold. Broker B charges a flat $24 for each bond sold. If the bond has a market rate of 88.754, which broker will give Pierce the better deal, and by how much?

Osceola County bonds worth $1,000 are selling at 88.391. What is the market price of one such bond?

What are the benefits of a long-term bond over a short-term bond?

Which of the following kinds of bonds earn interest?I. Corporate bondsII. Bonds selling at a discountIII. Municipal bonds

Why is a bond with a higher interest rate often considered a higher risk investment?

Rank the following kinds of bonds in order from least secure to most secure: Municipal, Corporate, Treasury

Bonds from the city of Tavel Gorge worth $1,000 each are selling at 110.611. If Sean wishes to purchase three such bonds, how much can he expect to pay?

What is a bond?