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The questions have the answers in bold, I just really want to know how to get to the answer without excel or a financial calculator.

The questions have the answers in bold, I just really want to know how to get to the answer without excel or a financial calculator. Thank you!

Jack and Jill Jones purchased of a one-thousand-dollar par value corporate bond that pays a three percent coupon. This bond is a long-term corporate bond with approximately seventeen years remaining until maturity. The bond price was equal to $975. They will pay for this bond and the accrued interest associated with this bond today. Coupon interest payments are made semi-annually. There are 183 days between the last semi-annual coupon interest payment and the next scheduled semi-annual coupon interest payment. The last semi-annual coupon interest payment was made 143 days ago. How much will Jack and Jill Jones pay in accrued interest?

  1. $11.72
  2. $10.72
  3. $12.72
  4. $13.72

6. Jack and Jill Jones purchased of a one-thousand-dollar par value corporate bond that pays a three percent coupon. This bond is a long-term corporate bond with approximately seventeen years remaining until maturity. The bond price was equal to $975. They will pay for this bond and the accrued interest associated with this bond today. Coupon interest payments are made semi-annually. There are 182 days between the last semi- annual coupon interest payment and the next scheduled semi-annual coupon interest payment. The last semi-annual coupon interest payment was made 37 days ago. How much will Jack and Jill Jones pay in accrued interest?

  1. $ 3.05
  2. $13.05
  3. $ 4.05
  4. $14.05

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