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Homework: Chapter 15 Homework Save Score: 0 of 1 pt 5 of 10 (3 complete) HW Score: 10%, 1 of 10 pt X P15-10 (similar
Homework: Chapter 15 Homework Save Score: 0 of 1 pt 5 of 10 (3 complete) HW Score: 10%, 1 of 10 pt X P15-10 (similar to) Question Help O Selling bonds. Lunar Vacations needs to raise $6.300,000 for its new project (a golf course on the moon). Astro Investment Bank will sell the bond for a commission of 2.9%. The market yield is currently 7.8% on twenty-year semiannual bonds. If Lunar wants to issue a 5.9% semiannual coupon bond, how many bonds will it need to sell to raise the $8,300,000? Assume that all bonds are issued at a par value of $1,000. How many bonds will Lunar need to sell to raise the $8,300,000? (Round to the nearest whole number.) Enter your answer in the answer box and then click Check Answer. All parts showing Clear All Final Check
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