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A $1M investment in 90 day commercial paper has a 3% discount yield, what is its bond equivalent yield? A Commercial Paper is sold at

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A $1M investment in 90 day commercial paper has a 3% discount yield, what is its bond equivalent yield? A Commercial Paper is sold at discount not paying coupon interest. Bond equivalent yield 1.56596 1.81596 2.06596 2.31596 2.565% 2.81596 3.06596 3.31596 3.56596

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