A $1,000 bond, with interest at 8% on March 1 and September 1, was purchased on October 17. Compute the dollar amount of accrued interest that will be paid to the seller. (Assume a 360-day year.)

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The Answer of A $1,000 bond, with interest at 8% on March 1 and September 1, was purchased on October 17. Compute the dollar amount of accrued interest that will be paid to the seller. (Assume a 360-day year.)

A $1,000 Bond, with Interest at 8% on March 1