How to solve using financial calculator
In order to pay for all of its Super Bowl commercials, assume
that Anheuser-Busch issued a bunch of bonds on January 1, 2019 with
the following terms:
Par
Value
$10,000,000
Maturity
20 years (January 1, 2039)
Annual
Coupon
6% annual rate
Market Required
Yield-to-Maturity
6% annual rate (at time of issuance)
Payment
frequency
Semi-annual (every 6 months)
(8
points)
How much cash did Anheuser-Busch receive upon issuance...