Business, 27.11.2020 17:40 brendaesme

JRJ Corporation recently issued 10-year bonds at a price of $1,000. These bonds pay $60 in interest each six months. Their price has remained stable since they were issued, that is, they still sell for $1,000. Due to additional financing needs, the firm wishes to issue new bonds that would have a maturity of 10 years, a par value of $1,000, and pay $40 in interest every six months. If both bonds have the same Yield to Maturity, how many new bonds must JRJ issue to raise $2,000,000?(Hint find the YTM of first bond the find the value of 2nd bond)

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JRJ Corporation recently issued 10-year bonds at a price of $1,000. These bonds pay $60 in interest...

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