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Elementary,Middle School,High School,College,University,PHD
| Teaching Since: | May 2017 |
| Last Sign in: | 402 Weeks Ago, 4 Days Ago |
| Questions Answered: | 66690 |
| Tutorials Posted: | 66688 |
MCS,PHD
Argosy University/ Phoniex University/
Nov-2005 - Oct-2011
Professor
Phoniex University
Oct-2001 - Nov-2016
Life.com issued $22 million of commercial paper on April 1 on a nine-month note. Interest was discounted at issuance at a 7% discount rate. Complete the below table to calculate the effective interest rate on the commercial paper. (Enter your answers in whole dollars.) Principal X Annual Rate X Time = Discount Calculation of discount 22,000,000 (Blank) (Blank) (Blank) = 9 month rate X Conversion Factor = Annual Effective Rate Discount (Blank) (Blank) (Blank) Proceeds = (Blank) **Fill in the Blanks
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