Question: What is a bond's accrued interest? Multiple choice question. It is the additional interest that a firm must pay if the interest cheques are mailed

What is a bond's accrued interest?
Multiple choice question.
It is the additional interest that a firm must pay if the interest cheques are mailed late.
It is the interest that has been earned but not yet received.
It is the interest that has been received but not yet earned.
It is the difference between the bond's coupon rate and the market yield.

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