Assume a hypothetical age of 33. Assume you would like to invest in a zero-coupon bond in order to have $500,000 in your retirement account when you get to the retirement age of 67. You found a zero-coupon bond yielding 5 percent semiannually. The face value of this bond is $5,000.

The maturity of this bond is 34 years.

Estimate how much you must invest today to achieve your goal of having $500,000 in your retirement account at age 67.