Suppose That $10 Million Face Value Commercial Paper with a 270-Day

question 61

Multiple Choice

Suppose that $10 million face value commercial paper with a 270-day maturity is selling for $9.55 million. What is the BEY on the paper?

• A)4.71 percent
• B)6.42 percent
• C)6.37 percent
• D)6.28 percent
• E)4.50 percent

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