Garrett purchased a $4,500 bond that was paying a 6.50% coupon rate and had 8 more years to mature. The yield at the time of purchase was 5.70% compounded semi-annually. Full solutions should be shown on separate sheets of paper. Submit your solutions.

a. How much did Garrett pay for the bond? Round to the nearest cent

b. What was the amount of premium or discount on the bond?

the amount is Round to the nearest cent