A start-up company needs to raise $5 million for a project. It plans to issue 22-year bonds with a par value of $1,000 and a coupon rate of 6.7% with interest paid seminannually. How many approximate bonds will the company need to issue to raise the $5 million if investors demand a required return of 5%? Enter your answer as a whole number (to the nearest integer).

Answer rating: 100% (QA)

The company needs to issue approximately 14819 bonds Heres how we can ca... View the full answer