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Cristiano Ronaldo just got paid and wants to purchase a Tesla corporate bond with a face value of $1,000,000. His broker tells him the invoice
Cristiano Ronaldo just got paid and wants to purchase a Tesla corporate bond with a face value of $1,000,000. His broker tells him the invoice price of the bond $1,119,000. The bond has a coupon rate of 6.25%, matures in 10 years and there are four months to the next semiannual coupon date.
What are the clean price (i.e., the principal amount) and accrued interest of this bond? (looking for 2 numbers)
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