Chartered Financial Analyst Level 1
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A commercial paper has the following characteristics: redemption value of $5,000,000, interest earned of $140,500, and 160 days to maturity. Assuming a 365-day year, the discount rate is closest to:
A commercial paper has the following characteristics: redemption value of $5,000,000, interest earned of $140,500, and 160 days to maturity. Assuming a 365-day year, the discount rate is closest to:
Exam-Like
A
6.2%.
33.3%
B
6.4%.
66.7%
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