Series 7 - General Securities Representative Exam

Training Mode

Your client bought a corporate bond at 106 with a 5% coupon. The trade settled on July 15th. The bond pays interest on February 15th & August 15th (interest payment dates). On top of the bond price, how much will your client pay the previous owner of record in accrued interest?

$31.15
A
$31.62
B
$20.85
C
$19.40
D