Question:S Corp. purchased 5, $1,000, 6% bonds of Simplex Corporation when the market rate of interest was 10%. Interest is paid semiannually on the bonds, and the bonds will mature in four years.

Using the PV function in Excel Superscript Excel, compute the price ShriverShriver paid (the present value) on the bond investment. (Assume that all payments of interest and principal occur at the end of the period. Round your answer to the nearest cent.)

This is how i solve the question,

Amount PVIF(5%,8)Present Value

Principal5x$1,000=$5,0000.6768$3,384

Amount PVIFA(5%,8)Present Value

Interest Payment5x($1,000x6%x1/2)=$1506.463$969.45

Total Value = $3,384+969.45= 4,353.45

But, $4,353.68 is the correct answer, Thats how it showed at answer sheet, Please help me to check and explain where i did wrong, Thanks!