Multiple Choice
Elise's Crafts needs $225,000 today to purchase some new equipment. The firm is a planning on issuing 10-year zero-coupon bonds. The current market rate of interest is 6.5%. How many bonds must Elise's Crafts sell to raise the money they need?
A) 225
B) 391
C) 423
D) 450
E) 467
Correct Answer:
Verified
Correct Answer:
Verified
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