What would be the issuing price of these bonds

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Question - Assume that Talga Ltd. would like to raise $10,000,000 with a new issuing of bonds. Assume that the issue will have a coupon rate of 5% with a 10 years maturity. Assume this are semi-annual coupon bonds and each have a face value of $1,000 and the required rates of return for similar bonds in the market is 3%. (a) What would be the issuing price of these bonds? (b) How many bonds Talga Ltd. will have to issue?

Reference no: EM133021779

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