A $1,000 bond, with interest at 7% on January 1 and July 1, was purchased on May 11. 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 7% on January 1 and July 1, was purchased on May 11. 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 7% on January 1