Question $1,$ Problem $7-15$

HW Score: $50\%,2$ of $4$ points $($similar to$)$

$$ Points: $0$ of $1$

Part $1$ of $2$

$($Bond valuation$)$ Xerox issued bonds that pay $$35\mathrm{.}00$ in interest each year and will mature ing $9$ years. You are thing about purchasing the bonds. You have decided that you would need to receive a return of $6$ percent on your investment. What is the value of the bond to you, first assuming that the interest is paid annually and then semiannually?

a$.$ If the interest is paid semiannually, the value of the bond is $ $($Round to the nearest cent.$)$