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The Treadwater Bank wants to raise $1.7million using three-month commercial paper. The net proceeds to the bank will be $1,584,600. What is the effective annual
The Treadwater Bank wants to raise $1.7million using three-month commercial paper. The net
proceeds to the bank will be $1,584,600. What is the effective annual rate of this financing for
Treadwater?
Select one:
.
A/32.47%
B/7.65%
C/47.32%
d. 5.80%
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