Question
Chloe bought a 180-day, $75,000 face value commercial paper at a price to yield 2.65% simple interest if the paper is held to maturity.
Chloe bought a 180-day, $75,000 face value commercial paper at a price to yield 2.65% simple interest if the paper is held to maturity. (Round all answers to 2 decimal places) Blank #1. What price was paid for the paper? Blank #2. The original buyer sold the paper after holding it for 100 days. If the interest rate is now 3.45%, what price was the paper sold for? Blank #3. What rate of interest did the original investor realize during her holding period? Blank # 1 Blank # 2 Blank # 3 A A Answer 2 A
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Get StartedRecommended Textbook for
Contemporary Financial Management
Authors: James R Mcguigan, R Charles Moyer, William J Kretlow
10th Edition
978-0324289114, 0324289111
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