iBond Interest Calculation - help!
This isn't the question about how to calculate the going interest rate for a given iBond, rather, its a question about how they calculate the coupon payment itself.
I'll use an actual example....
I have a 30k ibond purchased in Nov 2003. TreasuryDirect gives its current interest rate as 4.18% (since Nov 1st).
The value listed on TD after the 11/1 'coupon' was credited was $34,632. I would expect the coupon credited on 12/1 to have been $34,632 * 4.18% * 30/365 = $119
What they actually credited me for was $108.
I've posed the question to them, but in the mean time, does anyone know what's going on here? What is the precise calculation they use to determine the coupon payment?
Money's just something you need in case you don't die tomorrow.