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Ajax Co. issues 364-day commercial paper with a face value of $65,000 to yield 5.60%. Calculate the selling price of the commercial paper.
Ajax Co. issues 364-day commercial paper with a face value of $65,000 to yield 5.60%. Calculate the selling price of the commercial paper.
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Financial Markets and Institutions
Authors: Frederic S. Mishkin, Stanley G. Eakins
5th edition
321280299, 321280296, 978-0321280299
