In March 2012, Daniela motor financing, offered some security is for sale to the public. Under the terms of the deal, DMF promised to repay the owner of one of these securities $500 in March 2037, but investors would receive nothing until then. Investors paid DMF $250 for each of the securities; so they gave up $250 in March 2012 for the promise of a five her dollar payment 25 years later.

Suppose are the terms of the bond you could redeem the bond in 2022. DMF agreed to pay an annual interest rate of 8% until that date. How much would the bond be words at that time?