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Question 17 Company A has issued four-month commercial paper with a $1,000,000 face value. The firm netted $956,078 on the sale. What effective annual rate

Question 17

  1. Company A has issued four-month commercial paper with a $1,000,000 face value. The firm netted $956,078 on the sale. What effective annual rate is the company paying for these funds?

    NOTE: Answer in percentages. If your answer is 0.0204, you must answer 2.04. Do not use the "%" sign.

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