Question

Edmonds Enterprises, Inc. wants to raise $22 million by issuing 15-year, zero coupon bonds. The market requires an 6.0 percent return on similar bonds. The face value per bond will be $1,000. How many bonds must the firm issue? Ignore all issue and transaction costs.

Answer 1

The firm must issue 53399.77 bonds .

Step-by-step explanation:

Please see attachment .