Problem 6-20 Accrued Interest [LO 2]

You purchase a bond with an invoice price of $1,120. The bond has a coupon rate of 10.4 percent, semiannual coupons, and there are five months to the next coupon date.

Required:

What is the clean price of the bond? (Do not round intermediate calculations. Round your answer to 2 decimal places (e.g., 32.16).)

Clean price

$

Problem 6-21 Accrued Interest [LO 2]

You purchase a bond with a coupon rate of 9.2 percent, semiannual coupons, and a clean price of $830.

Required:

If the next coupon payment is due in five months, what is the invoice price? (Do not round intermediate calculations. Round your answer to 2 decimal places (e.g., 32.16).)

Invoice price

$