Question: Need Help solving this question please and thank you! On January 1, Hocam, Inc. issued a 10-year monthly bond with a face value of $1,695,000

Need Help solving this question please and thank you!

On January 1, Hocam, Inc. issued a 10-year monthly bond with a face value of $1,695,000 that pays 4.0% interest. On the date of issue the market for similar bonds was 7.0%. How much was Hocam able to raise from issuing this bond? For numerical entries, please 1. do NOT enter commas 2. do NOT enter the dollar symbol: $ 3. DO enter the percent symbol when it is needed: \% 4. enter dollar amounts to the nearest cent, for example: 12345.67

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