Zero-coupon bonds-raised from issuing these bonds

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Reference no: EM131314062

Deltona Motors just issued 230,000 zero-coupon bonds. These bonds mature in 18 years, have a par value of $1,000, and have a yield to maturity of 5.9 percent. What is the approximate total amount of money the company raised from issuing these bonds? Assume semiannual compounding. $75.14 million $88.20 million $80.76 million $62.08 million $91.84 million.

Reference no: EM131314062

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