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JJ Inc needs to raise $50,000,000 to expand into Arizona. They have decided to sell bonds to raise the funds. The term on the bond
JJ Inc needs to raise $50,000,000 to expand into Arizona. They have decided to sell bonds to raise the funds. The term on the bond is 20 years. It is a zero coupon bond. The par value is $1000 and the interest rate on comparable bonds is 0.03 How many bonds will JJ need to sell to raise the $50,000,000 to expand? Hint: calculate the price of the bonds, then determine how many bonds you need to sell to raise $50,000,000. Post your answer as a whole number. 1000 for example
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