Problem #$3$

On Jan. $1,2023$ Ardeth Bay purchased $900$ bonds @ $$1,013\mathrm{.}26$ per bond.

The new bond issue was priced such that the bonds have an yield $($annual$)$ of $4\mathrm{.}6\%.$

The bond $($annual coupon$)$ rate is $4\mathrm{.}9\%$ over the $5-$year term of the bonds.

The bonds pay interest semi$-$annually.