Maurice Tutor

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    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

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    Phoniex University
    Oct-2001 - Nov-2016

Category > Accounting Posted 13 Sep 2017 My Price 3.00

commercial paper

Non-interest-bearing note; effective interest rate

Life.com issued $10 million of commercial paper on April 1 on a nine-month note. Interest was discounted at issuance at a 6% discount rate. What is the effective interest rate on the commercial paper?

 

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Maurice Tutor
(5)
Status NEW Posted 13 Sep 2017 11:09 AM My Price 3.00

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