Question
Setrakian Industries needs to raise $51.1 million to fund a new project. The company will sell bonds that have a coupon rate of 5.87 percent
Setrakian Industries needs to raise $51.1 million to fund a new project. The company will sell bonds that have a coupon rate of 5.87 percent paid semiannually and that mature in 20 years. The bonds will be sold at an initial YTM of 6.19 percentand have a par value of $2,000. How many bonds must be sold to raise the necessary funds?
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Personal Finance
Authors: Jeff Madura, Hardeep Singh Gill
3rd Canadian Edition
978-0133035575, 133035573, 978-0133970524, 133970523, 978-0134040042
