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1. If I need to borrow $12,000 from the bank offering a 6.6% discount loan, how much will I end up borrowing? 2. What is

1. If I need to borrow $12,000 from the bank offering a 6.6% discount loan, how much will I end up borrowing?

2. What is the effective annual rate of trade credit on the terms 4/30 net 90?

3. What is the price of $30,000 par value 90-day commercial paper with a 3.5% discount yield?

4. What is the effective annual rate of the 90-day commercial paper mentioned above with the 3.5% discount yield?

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