Horizon telecom sold 300000 worth of 120-day commercial


Horizon Telecom sold $300,000 worth of 120-day commercial paper for $298,000. What is the dollar amount of interest paid on the commercial paper? What is the effective 120-day rate on the paper?

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Finance Basics: Horizon telecom sold 300000 worth of 120-day commercial
Reference No:- TGS01487387

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