Micalah's Crafts Needs $225,000 Today to Purchase Some New Equipment

question 380

Multiple Choice

Micalah's Crafts needs $225,000 today to purchase some new equipment. They are planning on issuing 10-year bonds with a 6% coupon rate and semi-annual interest payments. The current
Market rate of interest is 6.5%. How many bonds must Micalah's Crafts sell to raise the money they
Need?

• A) 216
• B) 225
• C) 226
• D) 231
• E) 234

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Definitions:

DNA

The molecule that carries genetic instructions for the development, functioning, growth, and reproduction of all known living organisms.

Proteins

Large, complex molecules essential to the structure, function, and regulation of the body's cells, tissues, and organs.

Human Genome

Describes the complete set of nucleic acid sequences for humans, encoded as DNA within the 23 chromosome pairs in cell nuclei and in a small DNA molecule found within individual mitochondria.

Genes

Units of heredity made up of DNA that determine characteristics of living organisms.