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Suppose that you are interested in buying a bond that pays interest semi-annually. It has an annual coupon of 5% with interest payable on January 15th and July 15th.

The bond accrued interest is determined using a 30/360 day count street convention.

If the bond is currently priced at $1,180, what is the invoice price for the bond using a settlement date of December 18? Please explain in detail.

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92850475

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