Northern Warehouses wants to raise $11.4 million to expand its business.To accomplish this,it plans to sell 40-year,$1,000 face value,zero-coupon bonds.The bonds will be priced to yield 8.75 percent.What is the minimum number of bonds it must sell to raise the $11.4 million it needs?

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The Answer of Northern Warehouses wants to raise $11.4 million to expand its business.To accomplish this,it plans to sell 40-year,$1,000 face value,zero-coupon bonds.The bonds will be priced to yield 8.75 percent.What is the minimum number of bonds it must sell to raise the $11.4 million it needs?

Northern Warehouses Wants to Raise $11