Bacon Signs Inc.has planned a 3-month issue of commercial paper with a face value of $15,000,000.The paper is set to sell at 99.5% of face value.What is the 3-month interest rate?
A) 0.5000%
B) 0.5025%
C) 0.5035%
D) 0.5050%
Correct Answer:
Verified
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