Find the present value of a 6-3/8 coupon bond($1000 face) with semi-annual paments and six years to maturity if the yield to maturity (appropriate discount rate) is 5%.

N = 12

I/Y = 2.5

PV =

PMT = 31.875 = (1,000 x 0.06375)/2

FV = 1000

How did he get this number, 31.875 = (1,000 x 0.06375)/2, I don't understand where the 0.06375 comes from