Laurentide Resorts is issuing commercial paper with 60 days to maturity.In case of default,the investor will lose the total amount.The quoted rate for the issue is 7 percent,and an equivalent government-backed security's rate is 6 percent.What is the probability of default?
A) 0%
B) 0.93%
C) 1%
D) 99.06%

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The Answer of Laurentide Resorts is issuing commercial paper with 60 days to maturity.In case of default,the investor will lose the total amount.The quoted rate for the issue is 7 percent,and an equivalent government-backed security's rate is 6 percent.What is the probability of default?
A) 0%
B) 0.93%
C) 1%
D) 99.06%

Laurentide Resorts Is Issuing Commercial Paper with 60 Days to Maturity.In