Page 1 of 1
Selling bonds. Rawlings needs to raise $37,100,000 for its new manufacturing plant in Jamaica. Berkman Investment Bank w
Posted: Fri Jul 01, 2022 7:42 am
by answerhappygod
- Selling Bonds Rawlings Needs To Raise 37 100 000 For Its New Manufacturing Plant In Jamaica Berkman Investment Bank W 1 (59.05 KiB) Viewed 34 times
Selling bonds. Rawlings needs to raise $37,100,000 for its new manufacturing plant in Jamaica. Berkman Investment Bank will sell the bond for a commission of 2.1%. The market yield is currently 7.6% on twenty-year zero-coupon bonds. If Rawlings wants to issue a zero-coupon bond, how many bonds will it need to sell to raise the $37,100,000? Assume that the bond is semiannual and issued at a par value of $1,000. How many bonds will Rawlings need to sell to raise the $37,100,000? (Round to the nearest whole number.)