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The price of 182-day commercial paper is $7,840. If the annualized investment rate is 4.093%, what will the paper pay at maturity? Answer: Let B

The price of 182-day commercial paper is $7,840. If the annualized investment rate is 4.093%, what will the paper pay at maturity?

Answer: Let B = what will be paid at maturity NOTE: ANSWER IS LISTED BELOW. HOWEVER, I DON'T UNDERSTAND HOW TO SOLVE FOR B. PLEASE SHOW STEP BY STEP PROCESS OF SOLVING FOR B (INCLUDING CROSSING OUT NUMBERS AS YOU SOLVE FOR B). THANK YOU

[(B - $7,840) / ($7,840)] times (365 / 182) = 0.04093

[(B - $7,840) / ($7,840)] times 2.0055 = 0.04093

(B - $7,840) times 2.0055 =320.89

B - $7,840 = 160

B = $8,000

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