Calculate the Accrued Interest Per Bond and the Total Proceeds $\quad$

question 117

Short Answer

Calculate the accrued interest per bond and the total proceeds of the following bond sale, rounding each number to the nearest cent. $\quad$ $\quad$ $\quad$ $\quad$ $\quad$ $\quad$ $\quad$ $\quad$ $\quad$ $\quad$ $\quad$ $\quad$ $\quad$ $\quad$$\text {Time}$
$\quad$ $\quad$ $\quad$ $\quad$ $\quad$ $\quad$ $\quad$ $\quad$ $\quad$ $\quad$ $\quad$ $\quad$ $\quad$ $\quad$$\text {since}$
$\begin{array} { l l l l l l l l } & \text { Coupon}&\text { Market } & \text { Last } & \text { Accrued } & \text { Commission Per } & \text { Bonds } & \text { Total } \\ \text { Company } & \text { Rate } & \text { Price } & \text { Interest } & \text { Interest } & \underline { \text { Bond } } & \text { Purchased } & \text { Proceeds } \\ \text { Gina's Shop }& 10.625 & 112.50 & 16 \text { days } & & \$ 8.50 & 1 & \end{array}$

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Definitions:

Merchant

An individual or business entity engaged in the selling and purchasing of goods or services, often involved in trade at a larger scale.

Destroyed

To damage something so badly that it no longer exists, works, or has value.

Common Carrier

is a person or company that transports goods or people for any person or company and that is responsible for any possible loss of the goods during transport.

Independent Contractor

A person or entity engaged in a work performance agreement who is not considered an employee and does not receive employee benefits.