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You decide to raise $5 million in capital through the issuance of 30-year, zero-coupon bonds, each with a face value of $1,000. The prevailing effective

You decide to raise $5 million in capital through the issuance of 30-year, zero-coupon bonds, each with a face value of $1,000. The prevailing effective yield to maturity on such bonds is 1.5% semi-annually. How many bonds must you issue?

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