Calculate the accrued interest of the bonds

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Question: Assume that you bought Treasury bonds. The settlement date of the bonds is 9/30/2017, and the bonds pay coupon interests on 8/15 and 2/15 each year. The bonds will mature in 2029. The coupon rate is 4% and the total par value is $10 million. The yield to maturity of the bond is 3%. Calculate the accrued interest of the bonds. Assume that February has 28 days.

Reference no: EM131935839

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