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The MerryWeather Firm wants to raise $12 million to expand itsbusiness. To accomplish this, the firm plans to sell 10-year,$1,000 face value zero-coupon bonds. The bonds will be priced toyield 6 percent. What is the minimum number of bonds the firm mustsell to raise the $12 million it needs? Use annual compounding. |
21,490
48,293
12,000
10,745
24,146
Dec 02 2019 View more View Less
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