Xyz motors just issued 225000 zero coupon bonds. these, Ask an Expert

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XYZ Motors just issued 225,000 zero coupon bonds. These bonds mature in 20 years, have a par value of $1,000, and have a yield to maturity of 7.45 per cent. What is the approximate total amount of money the company raised from issuing these bonds? (Assume semi-annual compounding)

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Category:- Basic Finance
Reference No.:- M925016

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