stion $8$

Northern Warehouses wants to raise $$11\mathrm{.}4$ million to expand its business. To accomplish this, it plans to sell $40-$year, $$1,000$ face value, zero$-$co

bonds. The bonds will be priced to yield $8\mathrm{.}75$ percent. What is the minimum number of bonds it must sell to raise the $$11\mathrm{.}4$ million it needs?