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Caspian Sea Drinks needs to raise $34.00 million by issuing bonds. It plans to issue a 18.00 year semi-annual pay bond that has a coupon
Caspian Sea Drinks needs to raise $34.00 million by issuing bonds. It plans to issue a 18.00 year semi-annual pay bond that has a coupon rate of 5.04%. The yield to maturity on the bond is expected to be 4.71%. 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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