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Please round to the nearest cent. Westminster Insurance Company. Westminster Insurance Company plans to sell $2,800,000 of eurocommercial paper with a 90-day maturity and discounted

image text in transcribedPlease round to the nearest cent.

Westminster Insurance Company. Westminster Insurance Company plans to sell $2,800,000 of eurocommercial paper with a 90-day maturity and discounted to yield 6.20% per annum. What will be the immediate proceeds to Westminster Insurance? Assume a 360-day year. The immediate proceeds to Westminster Insurance will be SL. (Round to the nearest cent)

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