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On July 10, 2012, you purchase a $10,000 par T-note that matures in five years. The settlement occurs on July 11, 2019. The coupon rate
On July 10, 2012, you purchase a $10,000 par T-note that matures in five years. The settlement occurs on July 11, 2019. The coupon rate is 8 percent and the current price quote is
95.8986 percent. The last coupon payment was on 12 days before settlement, and the next coupon payment will be paid on 165 days from settlement. Calculate the accrued interest due
to the seller from the buyer at settlement. (round your answer to 2 decimal places)
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