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Seabiscuit Industries needs to raise $51.23 million to fund a new project. The company will sell bonds that have a coupon rate of 5 percent paid semiannually and that mature in 15 years. The bonds will be sold at an initial YTM of 7.25 percent and have a par value of $2,000. How many bonds must be sold to raise the necessary funds? O 32,168 35,202 32,089 20,734 20,549

Seabiscuit Industries needs to raise $51.23 million to fund a new project. The company will sell bonds that have a coupon rate of 5 percent paid semiannually and that mature in 15 years. The bonds will be sold at an initial YTM of 7.25 percent and have a par value of $2,000. How many bonds must be sold to raise the necessary funds? O 32,168 35,202 32,089 20,734 20,549

Essentials Of Investments
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
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Seabiscuit Industries needs to raise $51.23 million to fund a new project. The company will sell bonds that have a coupon rate of 5 percent paid semiannually and that mature in 15 years. The bonds will be sold at an initial YTM of 7.25 percent and have a par value of $2,000. How many bonds must be sold to raise the necessary funds? 32,168 O 35,202 32,089 O 20,734 20,549
Transcribed Image Text:Seabiscuit Industries needs to raise $51.23 million to fund a new project. The company will sell bonds that have a coupon rate of 5 percent paid semiannually and that mature in 15 years. The bonds will be sold at an initial YTM of 7.25 percent and have a par value of $2,000. How many bonds must be sold to raise the necessary funds? 32,168 O 35,202 32,089 O 20,734 20,549
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