the app store needs to raise $2.8 million for expansion. the firm wants to raise this money by selling 20-year, zero coupon bonds with a par value of $1,000. the market yield on similar bonds is 7.19 percent. how many bonds must the company sell to raise the money it needs? assume semiannual compounding.

Question

04-11-2022
Business

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the app store needs to raise $2.8 million for expansion. the firm wants to raise this money by selling 20-year, zero coupon bonds with a par value of $1,000. the market yield on similar bonds is 7.19 percent. how many bonds must the company sell to raise the money it needs? assume semiannual compounding.

Sagot :

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