Question
Worthington, Inc. is planning to issue $7,500,000 in 120-day maturity notes carrying a rate of 11% per year. Worthingtons commercial paper will be placed at
Worthington, Inc. is planning to issue $7,500,000 in 120-day maturity notes carrying a rate of 11% per year. Worthingtons commercial paper will be placed at a cost of $35,000. What is the effective cost of credit to Worthington?
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Investing In Mortgage Backed And Asset Backed Securities
Authors: Glenn M. Schultz, Frank J. Fabozzi
1st Edition
1118944003, 978-1118944004
