Question
#24 Caspian Sea Drinks needs to raise $28.00 million by issuing bonds. It plans to issue a 16.00 year semi-annual pay bond that has a
#24
Caspian Sea Drinks needs to raise $28.00 million by issuing bonds. It plans to issue a 16.00 year semi-annual pay bond that has a coupon rate of 5.10%. The yield to maturity on the bond is expected to be 4.73%. How many bonds must Caspian Sea issue? (Note: Your answer may not be a whole number. In reality, a company would not issue part of a bond.)
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The Legal Environment Today Summarized Case Edition
Authors: Roger LeRoy Miller
8th Edition
130526276X, 978-1305279407, 1305279409, 978-1305704930, 1305704932, 978-1305262768
