Suppose that a Treasury coupon security is purchased on April 8 and that the last coupon payment

Question:

Suppose that a Treasury security is purchased on April 8 and that the last payment was on February 15. Assume that the year in which this security is purchased is not a leap year.
Answer the below questions.
(a) How many days are in the accrued interest period?
(b)If the rate for this Treasury security is 7% and the of the issue purchased is $1 million, what is the accrued interest? Coupon
A coupon or coupon payment is the annual interest rate paid on a bond, expressed as a percentage of the face value and paid from issue date until maturity. Coupons are usually referred to in terms of the coupon rate (the sum of coupons paid in a... Par Value
Par value is the face value of a bond. Par value is important for a bond or fixed-income instrument because it determines its maturity value as well as the dollar value of coupon payments. The market price of a bond may be above or below par,...