Rob buys a 30-year coupon bond with a $250,000 face value at a time when the interest (coupon) rate is 5%. In just under 5 years (so just before the 3rd coupon payment) he sells the bond to a neighbour. At that time the interest rate is 3%. How much is the bonds approximate (within $1000) competitive value at the time of sale?

Question 2 options:

	343,565
	345,565
	347,565
	349,565
	None of the above