1. liquid assets tend to be
Heterogeneous with high information costs
Homogeneous with low information costs
Homogeneous with high information costs
Heterogeneous with low information costs
2. An investor buys commercial paper with a 60-day maturity for $985,000. Par value is $1,000,000, and the investor holds it to maturity. What is the annualized yield?
A) 8.62 percent
B) 8.78 percent
C) 8.90 percent
D) 9.14 percent
E) 9 percent