Question $3(2$ points$)$

You wish to purchase some $25-$year$-$maturity strip bonds with the $$11,874$ in cash you now have. If these strip bonds are currently priced to yield $2\mathrm{.}125\%$ compounded semiannually, how many $$1000$ denomination bonds can you purchase?

a

$5$ bonds

b

$8$ bonds

c

$6$ bonds

d

$14$ bonds

e

$7$ bonds