What is the purchase price of a bond that is issued on May 1,2002 for 22 years at a coupon

rate of 9.4% compounded semi-annually? The maturity date of the bond is May 11,2007 and the yield

rate is 8.5% compounded semi-annually. The bond has a face value of $5000 and it is redeemable

at par.

I have FV= 5000 PMT= 235 i=.0425 n=5.5

5000(1.0425^-5.5) + 235(1-1.0425^-5.5)/.0425

5000(.795393) + 235(4.814282)

3976.965000 + 1131.356353 = 5108.321353

The answer is not correct could someone help me find out where I went wrong?

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