You have just been offered a commercial paper with a face value of ¢45,000,000 which bears a discount of 36% and has 182 days to mature. How much will you be prepared to pay for this paper?
You have just been offered a commercial paper with a face value of ¢45,000,000 which bears a discount of 36% and has 182 days to mature. How much will you be prepared to pay for this paper?
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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- You have just been offered a commercial paper with a face value of ¢45,000,000 which bears a discount of 36% and has 182 days to mature.
How much will you be prepared to pay for this paper?
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