A $1000 bond, with interest at 8% payable semi-annually on January 1 and July 1, was purchased on February 8, 2012. The bond matures on July 1, 2015 and yields 2.2% compounded semi-annually. What is the purchase payment for the bond?

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The Answer of A $1000 bond, with interest at 8% payable semi-annually on January 1 and July 1, was purchased on February 8, 2012. The bond matures on July 1, 2015 and yields 2.2% compounded semi-annually. What is the purchase payment for the bond?

A $1000 Bond, with Interest at 8% Payable Semi-Annually on January