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A corporate treasurer is looking to invest money for 60 days. She finds that bond equivalent yields from investing into a commercial paper and an

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A corporate treasurer is looking to invest money for 60 days. She finds that bond equivalent yields from investing into a commercial paper and an NCD are equal to each other. The NCD rate is quoted as 3.66 percent, and the face value associated with the commercial paper is 1,000,000. What is the price of the commercial paper? 993,900.00 993,925.21 998,915.28 None of the provided answers is correct 997,645.46 993,815.28

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