An investor held a $250,000 face value 5% Government of Canada semi-annual pay bond that matures October

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Question:

An investor held a $250,000 face value 5% Government of Canada semi-annual pay bond that matures October 15th, 2020. When it was trading at 98, he sold it. If the trade settles on June 24th, the buyer of the bond owes the seller of the bond accrued interest of…

a) $2,397.26.

b) $3,676.37.

c) $3,869.86.

d) $8,630.14.