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Pinnacle Consulting is planning to issue a zero-coupon bond with a 15-year maturity at a yield to maturity of 5.75%. Pinnacle needs to raise $15,000,000.
Pinnacle Consulting is planning to issue a zero-coupon bond with a 15-year maturity at a yield to maturity of 5.75%. Pinnacle needs to raise $15,000,000. To the nearest thousand, how many bonds do they need to issue? *a zero-coupon bond pays no coupon interest payments, but is still calculated as if they pay semi-annually* State your answer in millions, e.g., 12,849,000 not 12,849
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