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Elodia [21]
3 years ago
15

"A new issue corporate bond with dated date of June 1st is bought from the underwriter with settlement occurring on Monday, June

28th. How many days of accrued interest is owed to the underwriter?"
Business
1 answer:
Tema [17]3 years ago
4 0

Answer:

27 days

Explanation:

The accrued interest is calculated by beginning the count of days from the dated date of the corporate bond up until the settlement, without including the settlement date.

From 1st June to 27th June, a day before settlement date makes 27 days, as a result, the number of days in respect of which interest is owed to the underwriter is 27 days

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