On January 1, a company issues bonds with a par value of $300,000. The bonds mature in 5 years and pay 8% annual interest each June 30 and December 31. On the issue date, the market rate of interest is 6%. Compute the price of the bonds on their issue date. The following information is taken from the present value tables:

Present value of an annuity for 10 periods at 3%........8.5302
Present value of an annuity for 10 periods at 4%........8.1109
Present value of 1 due in 10 periods at 3%.................0.7441
Present value of 1 due in 10 periods at 4%.................0.6756


I have no idea where to start in answering this question.. I have asked people who have taken an accounting class before.. and no where in my book does it give an example.. i'm really thrown off by the list of numbers in the right hand column.. does that have to do with the formula (1/(1+i)^n?? if someone could help me in putting this together.. thanks!