please help Selling bonds. Lunar Vacations needs to raise $6,200,000 for its...
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Selling bonds. Lunar Vacations needs to raise $6,200,000 for its new project (a golf course on the moon). Astro Investment Bank will sell the bond for a commission of 2.3%. The market yield is currently 7.2% on twenty-year semiannual bonds. If Lunar wants to issue a 5.6% semiannual coupon bond, how many bonds will it need to sell to raise the $6,200,000? Assume that all bonds are issued at a par value of $1,000. How many bonds will Lunar need to sell to raise the $6,200,000? (Round to the nearest whole number)
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