Pintech Group needs a sum of $1 billion for an investment project. To raise funds, the company
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Question:
- Pintech Group needs a sum of $1 billion for an investment project. To raise funds, the company is planning to issue 15 year zero coupon bonds with a face value of $1000. Similar bonds have a yield to maturity of 5%.
- Estimate the approximate issue price of the bond. Show your calculation.
Calculate the number of bonds that would need to be issued at this price.
Related Book For
Intermediate Accounting
ISBN: 978-0470616314
IFRS edition volume 2
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield
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