1. A $3,000 par-value bond with 6% annual coupons is purchased at a premium ten years prior to its maturity date. The proceeds of the coupons are invested in a savings account with a 4% annual effective rate of interest. The annual effective yield on the ten-year investment (including the bond and the savings account) is 5%. What is the amount for amortization of premium in the third coupon the investor receives?

**The answer should be 14.66. Don't use the excel. I need help to solve this. **