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The MerryWeather Firm wants to raise $13 million to expand its business. To accomplish this, the...

The MerryWeather Firm wants to raise $13 million to expand its business. To accomplish this, the firm plans to sell 20-year, $1,000 face value zero-coupon bonds. The bonds will be priced to yield 7 percent. What is the minimum number of bonds the firm must sell to raise the $13 million it needs? Use annual compounding.

A.31,328

B.50,306

C.25,153

D.62,656

E.13,000

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