The company has a 90 day commercial paper at a 650 discount


The company has a 90 day commercial paper at a 6.50% discount rate. The cost is 0.25% per year. What is the true interest cost of the commercial paper (APY), including the cost of the backup line?

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Finance Basics: The company has a 90 day commercial paper at a 650 discount
Reference No:- TGS0638635

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