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You have just purchased a municipal bond with a $ 1 0 , 0 0 0 par value for $ 9 , 5 0 0

You have just purchased a municipal bond with a $10,000 par value for $9,500. You purchased it immediately after the previous
owner received a semiannual interest payment. The bond rate is 6.6% per year payable semiannually. You plan to hold the bond for 6
years, selling the bond immediately after you receive the interest payment. If your desired nominal yield is 10% per year compounded
semiannually, what will be your minimum selling price for the bond? $
Carry all interim calculations to 5 decimal places and then round your final answer to the nearest dollar. The tolerance is +-5.
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