On January $1,$ Quotor, Inc. issued a $10-$year monthly bond with a face value of $$1,955,000$ that pays $6\mathrm{.}0\%$ interest. On the date of issue,

the market for similar bonds was $8\mathrm{.}0\%.$ How much was Quotor able to raise from issuing this bond?

For numerical entries, please

do NOT enter commas

do NOT enter the dollar symbol: $

DO enter the percent symbol when it is needed: $\%$

enter dollar amounts to the nearest cent, for example: $12345\mathrm{.}67$

Cash Flow Diagram

Please complete the TVM Framework table to compute the amount that Quotor was able to raise by issuing this bond.

Time Value of Money $($TVM$)$ Framework

What Excel function and arguments to that function would you use to compute this value?

$=$function$($ rate $,$ nper, pmt $,[$FV$],[$type$])$

$,$