Question
BUSY Co. plans to sell a 180 day commercial paper amounting to Php 100,000,000 which it expects to pay a discounted interest of 12% per
BUSY Co. plans to sell a 180 day commercial paper amounting to Php 100,000,000 which it expects to pay a discounted interest of 12% per annum. BUSY expects to incur Php 100,000 in dealer placement fees and paper issue costs. Determine the effective cost of BUSY's credit. (Assume 360 day year).
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Foundations Of Finance
Authors: Arthur J. Keown, John D. Martin, J. William Petty
9th Global Edition
1292155132, 9781292155135
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