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Hello Dear John Moffat
I have a question: $6m debt @10% quoted at 90, does this mean I will receive $90 per $100?
Thank you so much,
It means that if you were to buy debt with a nominal value of $100 on the stock exchange, then you would have to pay $90. Similarly, if you were to sell debt with a nominal value of $100 on the stock exchange then you would receive $90.
I do suggest that you watch my free lectures where this is all explained. The lectures are a complete free course for Paper FM and cover everything needed to be able to pass the exam well.