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Question - Selling bonds - Lunar Vacations needs to raise $6,300,000 for its new project? (a golf course on the? moon). Astro Investment Bank will sell the bond for a commission of 2.9%. The market yield is currently 7.8% on? twenty-year semiannual bonds. If Lunar wants to issue a 6.2% semiannual coupon? bond, how many bonds will it need to sell to raise the $6,300,000?? Assume that all bonds are issued at a par value of $1,000. How many bonds will Lunar need to sell to raise the ?$6,300,000??
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