Global exporters wants to raise 296 million to expand its, Finance Basics

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Global exporters wants to raise 296 million to expand its

Question: Global Exporters wants to raise $29.6 million to expand its business. To accomplish this, it plans to sell 20-year, $1,000 face value, zero coupon bonds. The bonds will be priced to yield 7.75 percent. What is the minimum number of bonds it must sell to raise the money it needs?

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Finance Basics: Global exporters wants to raise 296 million to expand its

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