Wesley purchased a 90-day interest-bearing promissory note that had a face value of $125,000 and an interest
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Wesley purchased a 90-day interest-bearing promissory note that had a face value of $125,000 and an interest rate of 4.5% p.a. In 30 days, he sold the note for $125,500 to Walker. What rate of return did Walker earn on the note? TREASURY BILLS AND COMMERCIAL PAPERS AppendixLO1
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Related Book For
Mathematics Of Business And Finance
ISBN: 9781927737545
4th Edition
Authors: Larry Daisley, Thambyrajah Kugathasan, Diane Huysmans
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