finance-A bond with a coupon rate of 10% makes semiannual coupon payments
QUESTION
A bond with a coupon rate of 10% makes semiannual coupon payments on March 15 and September 15 of each year. The coupon period has 182 days. Suppose that you paid a total of $1,012 to buy the bond on April 15. What is the quoted price of the bond? What is the accrued interest? (Face value = $1,000)
ANSWER:
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