Question $16$

$2$ pts

An investor purchases a $10-$year, $$5,000$ face value bond that pays semiannual interest at annual rate of $10\%.$ If the annual market rate of interest is $8\%,$ what is the current market value of the bond?

$$4,376\mathrm{.}89$

$$5,000\mathrm{.}00$

$$5,405\mathrm{.}55$

$$5,679\mathrm{.}52$