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ife.com issued $ 1 3 million of commercial paper on April 1 on a nine - month note. Interest was discounted at issuance at a

ife.com issued $

13

million of commercial paper on April

1

on a nine

-

month note. Interest was discounted at issuance at a

8 %

discount rate.

Calculate the discount on the commercial paper.

Calculate the effective interest rate on the commercial paper.ife.com issued $

13

million of commercial paper on April

1

on a nine

-

month note. Interest was discounted at issuance at a

8 %

discount rate.

Calculate the discount on the commercial paper.

Calculate the effective interest rate on the commercial paper.

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