Calculate effective annual interest rate

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Reference no: EM1333950

Trying to find how to calculate the effective annual interest rate on the commercial paper when a business sold an issue of 30-day paper with a fact value of $5,000,000 and the frim received $4,958,000.

Reference no: EM1333950

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Calculate effective annual interest rate : Trying to find how to calculate the effective annual interest rate on commercial paper when business sold an issue of 30-day paper with fact value of $5,000,000 and the frim received $4,958,000.

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