Answered

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Global exporters wants to raise $31.3 million to expand its business. To accomplish this, it plans to sell 15-year, $1,000 face value, zero coupon bonds. The bonds will be priced to yield 5.75 percent. what is the minimum number of bonds it must sell to raise the money it needs? Assume semiannual compounding
a) 74.907
b) 73.225
c) 86.029
d) 69.800
e)80.412

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