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On July 1, 2012, you purchase a $10,000 par T-note that matures in five years. The coupon rate is 8 percent and the price quoted is 98.1875. The last coupon payment was May 1, 2012, and the next payment
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On July 1, 2012, you purchase a $10,000 par T-note that matures in five years. The coupon rate is 8 percent and the price quoted is 98.1875. The last coupon payment was May 1, 2012, and the next payment is November 1, 2012 (184 days total). The accrued interest is ______.

User Ben Aveling
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Answer:

$132.61

Step-by-step explanation:

132.61 ((8%/2) x 10,000) x (61 days since last coupon/184) = $132.61

User Jeow Li Huan
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