A dealer will issue the paper at 4985000 at a fee of 2000
A firm plans to issue $5,000,000 of commercial paper for 30 days. A dealer will issue the paper at $4,985,000 at a fee of $2,000 in advance. What is the effective annual rate?
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a firm plans to issue 5000000 of commercial paper for 30 days a dealer will issue the paper at 4985000 at a fee of 2000
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