34. Pennypacker Industries needs to raise $40,000,000 by issuing bonds. The company plans to issue a $1000 par value, 16-year semi-annual payment bond that has a coupon rate of 4.40%. The yield to maturity on the bond is expected to be 4.70%. How many bonds must Pennypacker Industries issue? Round your answer up to the nearest whole number (i.e., no decimal places); for example, enter 112,304.874 or 112,304.128 as 112305. 35. Compute the price of a $5000 par value bond with a coupon rate of 7.15% (semi-annual payments) and 29 years remaining to maturity. Assume that the current yield to maturity on the bond is 8.60%
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all dollar answers to 2 decimal places and record all interest rate, coupon rate and growth rate answers as a percent
rounded to one decimal place
34. Pennypacker Industries needs to raise $40,000,000 by issuing bonds. The company plans to issue a $1000 par
value, 16-year semi-annual payment bond that has a coupon rate of 4.40%. The yield to maturity on the bond
is expected to be 4.70%. How many bonds must Pennypacker Industries issue? Round your answer up to the
nearest whole number (i.e., no decimal places); for example, enter 112,304.874 or 112,304.128 as 112305.
35. Compute the price of a $5000 par value bond with a coupon rate of 7.15% (semi-annual payments) and 29
years remaining to maturity. Assume that the current yield to maturity on the bond is 8.60%
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