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Setrakian Industries needs to raise $69.5 million to fund a new project. The company will sell bonds that have a coupon rate of 5.76 percent
Setrakian Industries needs to raise $69.5 million to fund a new project. The company will sell bonds that have a coupon rate of 5.76 percent paid semiannually and that mature in 20 years. The bonds will be sold at an initial YTM of 6.43 percent and have a par value of $2,000. How many bonds must be sold to raise the necessary funds? (Round your intermediate calculations to two decimal places and final answer to the nearest whole number.) 2. 3 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 Effective Annual Interest Rate Bond Pricing +
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