Question

Apple issued three rounds of debt corporate bonds) to borrow money to finance the building and operating of its new research lab How much money did Apple raise collectively from its issues of corporate bonds? Use this beanswer the questionRound your answer to 1 decimal place. The answer will be given in billions.) Total debt issued

Answer 1

Amount raised in first issue = total par value * issue price / 100

Amount raised in first issue = $500 million * 99.558 / 100 = $497.79 million

Amount raised in second issue = total par value * issue price / 100

Amount raised in second issue = $700 million * 98.466 / 100 = $689.262 million

Amount raised in third issue = total par value * issue price / 100

Amount raised in third issue = $600 million * 97.913 / 100 = $587.478 million

Total amount raised = $497.79 million + $689.262 million + $587.478 million

Total amount raised = $1,774.53 million

Total amount raised = $1.8 billion (rounded to one decimal place)