Life.com issued $$19$ million of commercial paper on April $1$ on a nine$-$month note. Interest was discounted at issuance at a $6\%$ discount rate.

Calculate the discount on the commercial paper.

Calculate the effective interest rate on the commercial paper.

Complete this question by entering your answers in the tabs below.

Discount

Effective Rate

Calculate the effective interest rate on the commercial paper.

Note: Do not round intermediate calculation. Enter your answers in whole dollars. Round "Effective Interest Rate" to $1$ decimal place. $($i$.$e$.,0\mathrm{.}123$ should be entered as $12\mathrm{.}3).$

$\backslash$table$[[,,=,9-$month rate,$,\backslash$table$[[$Conversion$],[$Factor$]],=,$Effective Interest Rate$],[$Discount$,=,\%,,,,,],[$Proceeds$,,,,,,,]$Please answer $1$ &$2]$

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