Answer each of the following regarding day count conventions. a. In a bond market using a 30/360

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Answer each of the following regarding day count conventions.

a. In a bond market using a “30/360” price quotation convention, how many days’ worth of accrued interest would fall on July 31?

b. In a bond market using an “actual/365” price quotation convention, how many days’ worth of accrued interest would fall on July 31 if interest payments fall on June 30 and December 31?

c. In a bond market using a “30/360” price quotation convention, how many days’ worth of accrued interest would fall on February 29 during a leap year?

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