nework: Chapter $15$

Question $6,$ P$15-12($similar

HW Score: $10\%,1$ of $10$ points

nework

to$)$

Points: $0$ of $1$

$02$ study

exam $1$

ion list

Selling bonds. Rawlings needs to raise $$44,900,000$ for its new manufacturing plant in Jamaica. Berkman Investment Bank will sell the bond for a commission of $2\mathrm{.}6\%.$ The market yield is currently $7\mathrm{.}6\%$ on twenty$-$year zero$-$coupon bonds. If Rawlings wants to issue a zero$-$coupon bond, how many bonds will it need to sell to raise the $$44,900,000?$ Assume that the bond is semiannual and issued at a par value of $$1,000.$

stion $4$

How many bonds will Rawlings need to sell to raise the $$44,900,000?$

$($Round to the nearest whole number.$)$