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Score: 0 of 1 pt 7 of 12 (5 complete) HW Score: 25%, 3 of 12 pts P15-10 (similar to) A Question Help Selling bonds.

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Score: 0 of 1 pt 7 of 12 (5 complete) HW Score: 25%, 3 of 12 pts P15-10 (similar to) A Question Help Selling bonds. Lunar Vacations needs to raise $6,200,000 for its new project (a golf course on the moon). Astro Investment Bank will sell the bond for a commission of 2.8%. The market yield is currently 7.4% on twenty-year semiannual bonds. If Lunar wants to issue a 6.2% semiannual coupon bond, how many bonds will it need to sell to raise the $6,200,000? Assume that all bonds are issued at a par value of $1,000 How many bonds will Lunar need to sell to raise the $6,200,000? (Round to the nearest whole number.)

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