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ABC Ltd is planning to issue 16-year semi-annual coupon bonds with a face value of $1,000 and a coupon rate of 6.5%. The nominal yield
ABC Ltd is planning to issue 16-year semi-annual coupon bonds with a face value of $1,000 and a coupon rate of 6.5%. The nominal yield to maturity of potential investors is estimated to be 7.6% per annum. Calculate the required number (expressed as an integer) of semi-annual coupon bonds to be issued if the firm aims to raise $15 million. (3 marks)
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