A bond with a face value of $$4,000$ pays quarterly interest of $1\mathrm{.}5$ percent each period. Twenty$-$two interest payments remain before the bond matures. How much would you be willing to pay for this bond

today if the next interest payment is due now and you want to earn $8$ percent compounded quarterly on your money?

Click the icon to view the table of compound interest factors for discrete compounding periods when $i=2\%.$

You should pay!

$($Round to the nearest cent as needed.$)$