An investor purchased a $100,000 bond as a long-term investment on January 1 at 95. The bond pays semi-annual interest on June 1 and December 1 each year at a yearly rate of 9%.Brokerage fees were $2,000.How much cash was used to complete this transaction?

Select one:

a.$100,000

b.$97,000

c.$97,750

d.$100,750

e.$98,750