Question: When a bond is purchased between interest payments dates: a. The buyer of the bond must pay to the seller of the bond portion of

When a bond is purchased between interest payments dates:

a.

The buyer of the bond must pay to the seller of the bond portion of the coupon payment accrued between the last coupon payment and the settlement day.
b.

The seller of the bond must pay to the buyer of the bond portion of the coupon payment accrued between the last coupon payment and the settlement day.
c.

The buyer of the bond must pay to the seller of the bond portion of the coupon payment accrued between the last coupon payment and the next coupon payment day.
d.

The seller of the bond must pay to the buyer of the bond portion of the coupon payment accrued between the last coupon payment and the next coupon payment day.

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