Question
A Municipal bond's principal is $100 and pays an 8% coupon per annum, with payments made twice a year on March 1st and September 1st.
A Municipal bond's principal is $100 and pays an 8% coupon per annum, with payments made twice a year on March 1st and September 1st. What is the interest earned in dollars between March 1st 2015 and July 17th 2015?
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Financial management theory and practice
Authors: Eugene F. Brigham and Michael C. Ehrhardt
12th Edition
978-0030243998, 30243998, 324422695, 978-0324422696
