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5 (30 points) A $1 million investment in 90-day commercial paper has a 2% discount y an equivalent size and risk 90-day CD has a

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5 (30 points) A $1 million investment in 90-day commercial paper has a 2% discount y an equivalent size and risk 90-day CD has a 2% single payment yield. A. What is the actual purchase price/discount price for the commercial paper? ield and hich security offers the better return? Please use bond equivalent yield to compare. (20 points)

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