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A $1,000 seven-year 6% bond with semiannual coupons is redeemable for $1,065. It was originally purchased at issue for $970. It is sold after 45
A $1,000 seven-year 6% bond with semiannual coupons is redeemable for $1,065. It was originally purchased at issue for $970. It is sold after 45 months for $995. Find the accrued interest by the practical method and again by the theoretical method using the new yield to maturity.
Answer should be AT=$14.84, practical is $15
Please show work thanks!
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