(Answered) Your startup firm needs 12nbspmillionnbspto build a

Finance

Your startup firm needs $12 million to build a new headquarters in Sandy. As the CFO you have decided to raise the money with a bond issue. You plan to sell 15-year bonds with an 8% coupon rate (semiannual APR). The bonds will be issued at par.

How much will you have to pay out in coupon payments every 6 months?

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