Multiple Choice
You are purchasing a bond with a face value of $3,000 and a coupon rate of 5.45 percent.The bond pays interest semiannually and has a yield to maturity of 5.51 percent.The bond matures in 7.5 years and pays its next interest payment in 4 months.What amount of accrued interest must you pay to purchase this bond today?
A) $25.50
B) $27.25
C) $51.00
D) $37.75
E) $54.50
Correct Answer:
Verified
Correct Answer:
Verified
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