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Three decimal places Suppose a company purchases $10 million of 180-day commercial paper issued by KING Capital, a large finance company, for a price of

image text in transcribed Three decimal places

Suppose a company purchases $10 million of 180-day commercial paper issued by KING Capital, a large finance company, for a price of $9,929,444. Calculate the bond equivalent yield on the commercial paper. Please round the final answer to three decimal places in percentage form. (Write the percentage sign in the "units" box) Your

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