Question: please solve this question! The parts a) and b) below are independent questions which do not relate to each other. a) Brand Ltd wishes to

please solve this question! The parts a) and b) below are

please solve this question!

The parts a) and b) below are independent questions which do not relate to each other. a) Brand Ltd wishes to raise $10 million. They will issue an 8-year bond that pays a 6% p.a. semi-annual coupon with a face value of $1,000. The yield to maturity is 10% p.a. How many bonds does Brand Ltd need to issue? (4 marks)

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