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Company wishes to raise $30,000,000 through the sale of a zero-coupon bond issue, in which the bonds will have a maturity of 20 years and
Company wishes to raise $30,000,000 through the sale of a zero-coupon bond issue, in which the bonds will have a maturity of 20 years and a face value of $10,000 per bond. If the yield on one of these bonds is 5.50%, how many of these bonds will the company have to sell today, to raise the full $30 million? (Round up to the next whole number).
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