Caroline's manager notices that she exhibits an internal locus of control when she speaks about her work. her manager should ___
1 answer:
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Answer:
(a) 6.206%
(b) 6.54%
(c) 6.58%
Explanation:
Given that,
Commercial paper value = $3 million
Currently selling at 97.50 percent of its face value.
Days from maturity = 145
(a) Discount yield:
=
=
= 0.025 × 2.4827
= 0.06206 or 6.206%
(b) Bond equivalent yield:
=
=
= 0.026 × 2.52
= 0.0654 or 6.54%
(c) Effective annual return:
Future value = Present value ×
$100 = $97.50 ×
1.0658 = 1 + r
0.0658 or 6.58% = r