Hats the effective annual rate of interest that waldorf, Financial Management

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Hats the effective annual rate of interest that waldorf

The Waldorf Corporation issued some commercial paper with a face value of $2,000,000 and a maturity of 270 days. Investors in the commercial paper market have a required return of 4.2%

a) How much money will Waldorf raise with this paper? (round to the nearest dollar)

b) What's the effective annual rate of interest that Waldorf pays for the funds acquired?

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