On July 10, 2015, you purchase a $10,000 T-note that matures on December 31, 2024 (settlement occurs two days after purchase, so you receive actual ownership of the bond on July 12, 2015). The coupon rate on the T-note is 2.125 percent and the current price quoted on the bond is 98.250 percent. The last coupon payment occurred on June 30, 2015 (12 days before settlement), and the next coupon payment will be paid on December 31, 2015 (172 days from settlement). ( LG 6-2) a. Calculate the accrued interest due to the seller from the buyer at settlement. b: Calculate the dirty price of this transaction.

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Current Price quoted is the clean price 9825 98250 ... View the full answer