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I need help with this question. Thank you. The Treadwater Bank wants to raise $1.5 million using three-month commercial paper. The net proceeds to the

I need help with this question. Thank you.
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The Treadwater Bank wants to raise $1.5 million using three-month commercial paper. The net proceeds to the bank wili be $1,474,500. What is the effective annual rate (EAR) of this financing for Treadwater? The EAR of this financing is \%. (Round to one decimal place.)

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