Multiple Choice
A firm would like to issue $15 million face value of 30-day bankers' acceptances quoted at 5.5% at a stamping fee of 0.25%.What is the effective annual cost to the firm?
A) 4.65%
B) 5.64%
C) 8.90%
D) 23.39%
Correct Answer:
Verified
Correct Answer:
Verified
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