One day when my granny was out at her chemo session at the hospital, I searched her house looking for cash to pay for my unspeakable habits. I didnt find any cash but I did find a beautiful bond certificate. I could see that the bond was at 10%, for ten years payable monthly and the face value of the bond was $75000, The yield is 8% compounded annually. I could tell that the coupon payments were to pay for her chemo, so, although sorely tempted, I didnt steal the bond. How much did crafty old granny pay for this bond? And could there be more where this came from? Two decimal places.