explain how we get 45/182

show all steps by calcloter?

10.1 Bond Characteristics . Treasury Bonds and Notes Accrued interest and quoted bond prices Quoted prices do not include interest accruing between payment dates Accrued Interest (A.1.) Annual coupon payment Days since last coupon payment 2 Days separating coupon payments Example: A bond (par value = $1,000) makes semi-annual payments with a coupon rate of 6%. If 45 days have passed since the last coupon payment, what is the accrued interest? 45 A.I.= *$30 = $7.42 182