Chapter 15. Question 5.

III Homework: Chapter 15 Homework Question 5, P15-10 (similar to) HW Score: 0%, 0 of 10 points Points: 0 of 1 Save Selling bonds. Lunar Vacations needs to raise $5,500,000 for its new project (a golf course on the moon) Astro Investment Bank will sell the bond for a commission of 2.2%. The market yield is currently 7.3% on twenty-year semiannual bonds if Lunar wants to issue a 63% semiannual coupon bond, how many bonds will it need to sell to raise the $5,500,000? Assume that all bonds are issued at a par value of $1,000 How many bonds will Lunar need to sell to raise the $5,500,000 (Round to the nearest whole number)