The Florida Investment Fund buys 50 bonds of the Gator Corporation through a broker. The bonds pay 6 percent annual interest. The yield to maturity (market rate of interest) is 8 percent. The bonds have a 15-year maturity. UseAppendix BandAppendix Dfor an approximate answer but calculate your final answer using the formula and financial calculator methods.

Using an assumption of semiannual interest payments:

a.	Compute the price of a bond.(Do not round intermediate calculations and round your answer to 2 decimal places.)

Price of the bond

$

b.	Compute the total value of the 50 bonds.(Do not round intermediate calculations and round your answer to 2 decimal places.)

Total value

$