Today, a $10,000 bond bearing interest at 3% payable

Last updated: 8/4/2022

Today, a $10,000 bond bearing interest at 3% payable semi-annually will be due in 9 years and 6 months. The bond is purchased today when money is worth 2% compounded semiannually. The bond is sold not at par. Determine the PV of the Face Value. Round your answer to 2 decimal places.