A $1,000 6% n-year par-value bond has annual coupons. Tabithat brought the bond to yield 5%. The amount of interest in the first coupon is $52.89. Calculate the amount of premium Tabitha paid for the bond.

Answer: $57.86

I thought I had this but got a completely different answer. I think my issue is in calculating the n. I posted my work below.

Also note I have to calculate these by hand so I would prefer the calculations by hand.

Nevermind I made a small error of using .0711 instead of the correct number of .711.

Chapter hevicr 7 intere 52 paa n C.os (