It is now April 7, 2015. The quoted price of a U.S. government bond with a 6% per annum coupon (paid semiannually) is 120-17. The bond matures on July 27, 2024.
A. Calculate the accrued interest since the last coupon date. (Hint: The bond pays coupon on Jan. 27 and July 27 each year)
B. What is the cash price?
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