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A company wants to raise $50,000,000. It plans to sell 15 year, $1,000 par value, zero coupon bonds. The bonds will be priced to yield
A company wants to raise $50,000,000. It plans to sell 15 year, $1,000 par value, zero coupon bonds. The bonds will be priced to yield 6.60%. What is the minimum number of bonds it must sell to raise the money it needs?
a) 132,428
b) 50,000
c) 25,126
d) 130,415
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