The correct answer is underneath the question, but I have no idea how to get the correct answer. Please post the work and the steps in getting the correct answer.

You manage a pension fund. The fund promises to pay out $10 million in 5 years. You buy $7472582 worth of par-value bonds that pay 6% annually and mature in 8 years. 5 years from now, when you need to pay your pensioners, the market rate on same-risk bonds is 8.4%. Assume that 5 years from now, the coupon payments that you have reinvested over the life of the fund are worth a total of $2597988. What is total value of the pension fund? Round your answer to the nearest dollar. Answer: 10118164 X First, figure out how much money you will get when you sell those bonds 5 years from now if the rate at that time is 8.4%. You bought the bonds at par value, so $7472582 is the total amount of principal for those bonds. The bonds haven't matured yet, so they are still making payments of 6% per year. Once you've calculated the amount of money that you'll get for the bonds when you sell them in 5 years, just add that amount to the total value of the reinvested coupons and you have the total value of the fund. The correct answer is: 9611704