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A zero coupon bond with a face value of $1,000 is issued with an initial price of $455.50. The bond matures in 18 years. What

A zero coupon bond with a face value of $1,000 is issued with an initial price of $455.50. The bond matures in 18 years. What is the implicit interest, in dollars, for the first year of the bond's life? Use semiannual compounding.

a. $6.09 b. $20.34 c. $10.17 d. $11.06 e. $12.19

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