Student pleasers inc issues 5 million face value in, Financial Management

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Student pleasers inc issues 5 million face value in

Student Pleasers, Inc. issues $5 million (face value) in commercial paper, at a discount yield of 7.8%. The maturity is 270 days.

Compute the price paid by investors for the paper. (solve to the nearest dollar)

After computing the price, compute the bond equivalent yield on the paper (solve to the nearest dollar)

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Financial Management: Student pleasers inc issues 5 million face value in

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