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Title: The Missouri River Pendant Company uses commercial paper to satisfy part of its short-term financing ... Post by: borteleto on Jul 6, 2018 The Missouri River Pendant Company uses commercial paper to satisfy part of its short-term financing requirements. Next week, it intends to sell $18 million in 90-day maturity paper on which it expects to have to pay discounted interest at an annual rate of 7 percent per annum. In addition, Stoney River expects to incur a cost of approximately $25,000 in dealer placement fees and other expenses of issuing the paper. What is the effective annual cost of credit to Missouri River?
A) 7.7% B) 7.5% C) 7.3% D) 7.1% Title: The Missouri River Pendant Company uses commercial paper to satisfy part of its short-term financing ... Post by: DeanaRay on Jul 6, 2018 Content hidden
Title: The Missouri River Pendant Company uses commercial paper to satisfy part of its short-term financing ... Post by: borteleto on Jul 6, 2018 :heavy_check_mark:
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