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    Exam 7: Applications of Simple Interest
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    A Money Market Mutual Fund Purchased $1 Million Face Value
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A Money Market Mutual Fund Purchased $1 Million Face Value

Question 100

Question 100

Short Answer

A money market mutual fund purchased $1 million face value of Honda Canada Finance Inc. 90-day commercial paper 28 days after its issue. What price was paid if the paper was discounted at 2.10%?

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