Question
It is July 3. You have a bond with $100 principal whose most recent coupon payment was on March 1 and the next coupon payment
It is July 3. You have a bond with $100 principal whose most recent coupon payment was on March 1 and the next coupon payment is on September 1. The coupon rate is 8% per annum. Calculate the interest that has accrued to you until today (July 3) with (a) the actual/actual, (b) 30/360, and (c) the actual/360 day count convention.
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Introduction to Finance Markets, Investments and Financial Management
Authors: Ronald W. Melicher, Edgar A. Norton
16th edition
1119398282, 978-1-119-3211, 1119321115, 978-1119398288
