Westover Company Needs $1

question 63

Multiple Choice

Westover Company needs $1.8 million to expand its business.To accomplish this,the firm plans to sell 25-year,$1,000 face value zero-coupon bonds.The bonds will be priced to yield 7.15 percent with interest compounded semiannually.What is the minimum number of bonds the company must sell? Ignore all issue costs.

• A)10,424 bonds
• B)11,429 bonds
• C)10,333 bonds
• D)10,118 bonds
• E)11,410 bonds

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