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The US government wants to issue 20-year, $1,000 face value zero-coupon bonds. If each bond has a yield of 7%, what is the minimum number
The US government wants to issue 20-year, $1,000 face value zero-coupon bonds. If each bond has a yield of 7%, what is the minimum number of bonds they must sell if they wish to raise $5 million from the sale? (Assume annual compounding).
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