Very struggling with the following problem: Let's suppose you buy a T- note. The trade day is Oct $2, 2020$. The note matures on Nov $15th 2021$ with a $5%$ coupon and yield to maturity $1.6%$. What is the clean price of the note, given face value of $100$?
The answer should be $103.73$
What I did so far: calculated accrued interest using
$\frac{100*8%}{2}$ * $\frac {days .since .the .previous .coupon}{total. days }$
I have calculated that days since the previous coupon was April $15th, 2020$. Is that the correct previous coupon date? I am having a trouble with calculating total days and days since previous coupon date.
Can you help me to calculate the accrued interest?
Day convention ACT/ ACT (actual to actual). Trade note settlement date is usually t + 1 business day.