A certain group of bonds has a combined redemption value of $25,000 that will be paid 9 years from today. The face value of the bonds is $20,000, the coupon rate is 3.15%, and interest is paid semiannually. How much should you pay for these bonds if you wish to achieve a yield of 5.50%?

4. A certain group of bonds has a combined redemption value of $25,000 that will be paid 9 years from today. The face value of the bonds is $20,000, the coupon rate is 3.15%, and interest is paid semi-annually. How much should you pay for these bonds if you wish to achieve a yield of 5.50%