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you are buying a bond with a clean market value of $12,400,000. The Bond's par value is $10,000,000, coupon is 4% and pays semi-annually on
you are buying a bond with a clean market value of $12,400,000. The Bond's par value is $10,000,000, coupon is 4% and pays semi-annually on 3/1 and 9/1 and has a 30/360 accrual convention.
If you buy the bond on 6/12 please calculate:
1. Total # of days in the accrual period (up to purchase date)
2. The accrued interest on the bond as of purchase date
3. The full or "dirty" market value of the bond as of purchase date.
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