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Northern Warehouses wants to raise $11 million to expand its business. To accomplish this, it plans to sell 35 -year, $1,000 face value zero-coupon bonds

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Northern Warehouses wants to raise $11 million to expand its business. To accomplish this, it plans to sell 35 -year, $1,000 face value zero-coupon bonds The bonds will be priced to yield 6 percent. What is the minimum number of bonds it must sell to raise the $11 million it needs? Assume semiannual compounding. Multiple Choice 66,588 90,986 87,096 73,247 174,192

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