23. U.S. savings bonds are sometimes used as patriotic presents or awards, since they help the government by loaning it money. The interest is exempt from state and local income taxes and from federal income tax if used to pay for college tuition and fees. In December 2013, the Rodel Exemplary Teacher Initiative, which addresses the shortage of effective teachers in Arizona’s neediest schools and encourages excellent teachers to stay in the profession, chose 11 teachers each to receive a U.S. savings bond. These bonds cost $5000 each and earn 0.10% annual interest for up to 30 years. Unlike many other bonds, the interest on these bonds is compounded semiannually. What will be the value of such a bond after 30 years?