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Please explain. A$23,000. 6.8% bond redeemable at par is purchased 8 years before maturity to yield 5.1% compounded semi-annually. If the bond interest is payable

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Please explain.

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A$23,000. 6.8% bond redeemable at par is purchased 8 years before maturity to yield 5.1% compounded semi-annually. If the bond interest is payable semiannually, what is the purchase price of the bond? The purchase price of the bond is $ . (Round the nal answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)

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