Asked by Baddie Curtis Brown on May 17, 2024
Verified
A $1,000 bond, with interest at 8.2% paid semiannually January 1 and July 1, was purchased on August 18. Compute the number of days for which accrued interest will be paid.
Semiannually
Occurring twice a year or every six months.
Accrued Interest
The interest that has accumulated on a bond or other fixed-income security since the last interest payment was made.
- Calculate the period, expressed in days, for which interest is accrued in dealings with bonds.
Verified Answer
GW
Learning Objectives
- Calculate the period, expressed in days, for which interest is accrued in dealings with bonds.