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3. A bond with a face value of $100,000 and coupon interest paid semi-annually at an annual rate of 7.50% per annum was issued on

3. A bond with a face value of $100,000 and coupon interest paid semi-annually at an annual rate of 7.50% per annum was issued on 8 Mayr 2013 for4 years. Similar bonds are now selling at a yield-to-maturity of 7.41% per annum. Based on the most recent and next coupon dates, work out the accrued interest on the settlement date (20-Jan-2015). Please use Actual/Actual as the interest rate basis and leave the Calc method as its default

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