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borteleto borteleto
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Posts: 2477
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6 years ago
The Native Industries, Inc. is going to issue 180-day commercial paper to raise $25 million. It anticipates a discounted interest rate of 13 percent, and dealer placement costs of approximately $60,000. What is the effective annual cost of credit to Native Industries?
A) 13.46%
B) 14.06%
C) 14.45%
D) 15.38%
Textbook 
Foundations of Finance

Foundations of Finance


Edition: 9th
Authors:
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wrote...
6 years ago
 C
 
borteleto Author
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6 years ago
Mind blown, I've bookmarked this site on told my friends
wrote...
6 years ago
Really appreciate that
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