Find the interest payment you would have received (in dollars and cents) on July 15, 2023 if

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Question:

Find the interest payment you would have received (in dollars and cents) on July 15, 2023 if you owned a 10-year TIPS bond which was issued on Jan. 15, 2022 with a face value of $100,000 and a coupon rate of 2.40%. Suppose the annual inflation rate is announced at the end of each quarter (end of March, June, Sept. and Dec.). In 2021 the numbers were 4.4%, 5.5%, 6.6% and 7.0%. For 2022 they were 8.6%, 7.4%, 6.2%, and 6.3%. For 2023 they were 5.5%, 5.0%, and 4.7% (The December 2023 rate hadn't come out yet).

For this problem, anytime there appears to be more than one inflation rate you could use, you should use the most recently reported rate. (Please show detail working)