3 of 18 possible This question: 5 point(s) possible Submit test A $7000 bond that pays 5% semi-annually is redeemable at par in 15 years. Calculate the purchase price if it is sold to yield 3% compounded semi-annually (Purchase price of a bond is equal to the present value of the redemption price plus the present value of the interest payments). The purchase price is $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)