Your company wants to raise $11.0 million by issuing 30-year zero-coupon bonds. If the yield to...
Your company wants to raise $11.0 million by issuing 30-year zero-coupon bonds. If the yield to maturity on the bonds will be 6 % (annual compounded APR) ,what total face value amount of bonds must you issue?
The total face value amount of bonds that you must issue is
$ (Round to the nearest cent.)
Homework Answers
Face value of bonds that you must issue must be equal to the bond's future value as it is the amount that it which the bond will be redeemed:
=FV(rate,periods,pmt,present value)
=FV(6%,30,,11000000)
=63,178,402.90
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