A $15,000 bond with a coupon rate of 6.00% is redeemable on October 1, 2013. The bond coupons are paid every month. If the bond was purchased on July 1, 2009, when the interest rate in the market was 4.50% compounded monthly, what was the purchase price of the bond? Round to the nearest cent

Given:
Face value of the bond, M = \$15,000,
Annual coupon rate = 6.00%,
Monthly coupon rate, CR = \frac{6\%}{12} = 0.5\% = 0.005,
Monthly interest rate, r = \frac{4.50\%}{12} = 0.375\%,
The remaining life of the bond in months, n = 4 \text{ years} + 3 \text{ months} = 51.

The formula for the present value of the bond is:
PV = C \times \left(\frac{1 - (1 + r)^{-n}}{r}\right) + \frac{M}{(1+r)^n}

1. Calculate the monthly coupon payment, C:
C = M \times \text{Monthly Coupon Rate} = \$15,000 \times 0.005 = \$75

2. Substitute the known values into the present value formula:
PV = 75 \times \left(\frac{1 - (1 + 0.00375)^{-51}}{0.00375}\right) + \frac{15,000}{(1+0.00375)^{51}}

3. Calculate the present value using the formula above:
PV \approx \$15,868.89

Therefore, the purchase price of the bond, rounded to the nearest cent, is \$15,868.89.

\boxed{\$15,868.89}