How many bonds must joes equipment sell to raise the money

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Reference no: EM131962150

Joe's Equipment needs $225,000 today to purchase some new equipment.

They are planning on issuing 10-year bonds with a $1,000 face value, 6% coupon rate and semi- annual interest payments.

The current market rate of interest is 6.5%. How many bonds must Joe's Equipment sell to raise the money they need?

Reference no: EM131962150

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