(Answered) Problem accrued interestcollapsea you purchase a bond with

Accounting

Problem: Accrued InterestCOLLAPSE

A. You purchase a bond with an invoice price of $1,043. The bond has a coupon rate of 6.8%, semi-annually paid, and there are 5 months to the next coupon date. What is the clean price of the bond?

B. You purchase a bond with a coupon rate of 5.9%, semi-annually paid, and a clean price of $957. If there are 2 months to the next coupon date, what is the invoice price of the bond?

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