Question
Due to additional financing needs, XYZ Corporation wishes to issue new bonds that would have a maturity of 10 years, a par value of $1,000,
Due to additional financing needs, XYZ Corporation wishes to issue new bonds that would have a maturity of 10 years, a par value of $1,000, and pay $42.50 in interest every six months. If investors require 8.5 percent return on XYZs bond, how many new bonds must XYZ issue to raise $30,000,000 cash?
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Teaching Public Budgeting And Finance
Authors: Meagan M. Jordan, Bruce D. McDonald III
1st Edition
1032146680, 978-1032146683
