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A $5,500,000 issue of a 30-year bond, redeemable at par, offers 6.50% coupons payable semi-annually. The bond yields 4.00% compounded monthly. a. What was the

A $5,500,000 issue of a 30-year bond, redeemable at par, offers 6.50% coupons payable semi-annually. The bond yields 4.00% compounded monthly.

a. What was the purchase price of the bond, if it was purchased 15 years before maturity?

Round to the nearest cent

b. What was the amount of discount or premium on the bond?

.

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