What is the dollar amount of interest that an investor will, Financial Management

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What is the dollar amount of interest that an investor will

The Alston Motor Company issued some commercial paper with a face value of $3,000,000. The paper had a maturity of 80 days and carried an annual yield of 2.75%.

(a) What is the dollar amount of interest that an investor will receive from this paper?

(b) What is the effective annual rate of interest on this commercial paper?

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