What Interest Rate Was Used to Discount 270-Day, $750,000 Commercial

question 98

Multiple Choice

What interest rate was used to discount 270-day, $750,000 commercial paper when it was issued for $710,000?

• A) 7.21%
• B) 7.62%
• C) 5.33%
• D) 6.63%
• E) 6.94%

---

Definitions:

Patriot Cause

The movement and ideology among American colonists from the late 1760s to the 1780s aimed at gaining independence from Great Britain.

Black Men

Refers to male individuals of African descent, often highlighting their experiences, culture, and contributions within society.

Antislavery Society

Organizations dedicated to the abolition of slavery and the liberation of slaves.

American Revolution

The period during the late 18th century when the Thirteen Colonies in North America fought to gain independence from British rule, resulting in the founding of the United States.