Type the Excel formula for the accrued interest on $100,000 par of a 6 % bond, 61 days after the last coupon, on the Canadian actual/365 basis.
Type the Excel formula for the accrued interest on $100,000 par of a 6 % bond, 61 days after the last coupon, on the Canadian actual/365 basis.
Answer
=100000*0.06*61/365
Par × annual coupon × days ÷ 365 = 1,002.74. Equivalent: the 3,000 semi-annual coupon × 61 ÷ 182.5. Never ÷ the actual days in the period.
IIAC, Canadian Conventions in Fixed Income Markets, Release 1.3, §2.2.2 and §6.1 — actual/365 (Canadian Bond) accrued-interest method, observed 2026-09-17 (verified-facts §2.7 G12); Bigel, Introduction to Financial Analysis (CC BY 4.0) §12.4 — per-100 quotation shape only; original bond and dates