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Posted on Apr 26, 2024

Global Industrial intends to execute a marketing program half a year from now that requires a $ 5 0 0 , 0 0 0

Global Industrial intends to execute a marketing program half a year from now that requires a $

500, 000

investment. In preparation, the company plans to invest some of its available funds into a

90 -

day $

300, 000

face value commercial paper yielding

6 % .

How much money does Global Industrial need to purchase the commercial paper?

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