Question Completion Status: QUESTION 16 Company A wants to raise $1,000,000 using three-month commercial paper. The net proceeds to the bank be $973,697. What is the effective annual rate of this financing for the company? NOTE: Answer in percentages. If your answer is 0.0204, you must answer 2.04. Do not use the "%" sig QUESTION 17 Company A has issued four-month commercial paper with a $1,000,000 face value. The firm netted $989,376 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. QUESTION 18 Company A has borrowed $5,001,827 for one month at a stated annual rate of 9,84%, using inventory stored in a field warehouse as collateral. The warehouser charges a $5,282 fee, payable at the end of the month. What is the effective annual rate of this loan? NOTE: Answer in percentages. If your answer is 0.0204, you must answer 2.04. Do not use the "%" sign