Assume that you have a $100 bond that pays coupons of 8.4% on a quarterly basis, with a maturity at the end of Sep 2031. The yield for the bond is currently at 6.2% p.a., compounded quarterly. Calculate the clean price for this bond at the end of July 2016. (Round your answer in dollars to 2 decimal places, e.g. put 1204.42 if your answer is 1204.4243.)

To calculate the clean price of the bond, we need to calculate the present value of the future cash flows, which are the coupon payments and the face value of the bond.

Here are the steps:

1. Determine the number of periods: The bond matures in Sep 2031 and it's currently the end of July 2016. This means there are 15 years and 2 months remaining, or 61 quarters (since the bond pays on a quarterly basis).

2. Calculate the coupon payment: The bond pays 8.4% of its face value annually, but since it pays quarterly, we divide this by 4. So, the coupon payment is $100 * 8.4$2.1 per quarter.

3. Calculate the discount rate: The yield is 6.2% per annum, compounded quarterly, so we divide this by 4 to get the quarterly rate. So, the discount rate is 6.2% / 4 = 1.55%.

4. Calculate the present value of the coupon payments: This is the sum of the present values of each future coupon payment. We use the formula for the present value of an annuity: PV = C * (1 - (1 + r)^-n) / r, where C is the coupon payment, r is the discount rate, and n is the number of periods. So, PV = $2.1 * (1 - (1 + 1.55$98.96.

5. Calculate the present value of the face value: This is the present value of the $100 we receive at the end of the bond's life. We use the formula for the present value of a single sum: PV = FV / (1 + r)^n, where FV is the face value. So, PV =$100 / (1 + 1.55%)^61 = $57.31.

6. Add the present values: The clean price of the bond is the sum of the present values of the coupon payments and the face value. So, the clean price is $98.96 +$57.31 = $156.27.

So, the clean price of the bond at the end of July 2016 is $156.27.