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A 15-year U.S. Treasury bond with a face value of $10,000 pays a coupon of 5.25% (2.625% of face value every six months). The semiannually

A 15-year U.S. Treasury bond with a face value of $10,000 pays a coupon of 5.25% (2.625% of face value every six months). The semiannually compounded interest rate is 5.0% (a six-month discount rate of 5.0/2 = 2.5%). What is the present value of the bond?

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