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Erin purchased a $3,500 bond that was paying a 5.75% compounded semi-annually coupon rate and had 5 more years to maturity. The yield rate at

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Erin purchased a $3,500 bond that was paying a 5.75% compounded semi-annually coupon rate and had 5 more years to maturity. The yield rate at the time of purchase was 6.75% compounded semi-annually. a. How much did Erin pay for the bond? Round to the nearest cent b. What was the amount of premium or discount on the bond? (Click to select) amount is Round to the nearest cent

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