What is the accrued interest

Reference no: EM13285783

You are buying the face value of $5000 of a U.S. corporate bond on October 15. The bond offers a 4.75% semiannual coupon and matures in 5 years. The coupons are paid on Feb 28 and Aug 31. Interest is subject to the 30/360 convention: a month is counted as 30 days, a year is counted as 360 days. The bond's price is quoted at 97.85. Your commission is $20. What is the accrued interest?

Reference no: EM13285783

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