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    Exam 7: Applications of Simple Interest
  5. Question
    A $100,000, 90-Day Commercial Paper Certificate Issued by Wells Fargo
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A $100,000, 90-Day Commercial Paper Certificate Issued by Wells Fargo

Question 11

Question 11

Short Answer

A $100,000, 90-day commercial paper certificate issued by Wells Fargo Financial Canada was sold on its issue date for $99,250. What rate of return will it yield to the buyer?

Correct Answer:

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