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Calculate effective annual yield

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Reference no: EM132719879

Lett's commercial paper is presently selling at a discount. It sells for 98.31 of par and matures in 120 days. (Use 365 days a year. Do not round intermediate calculations. Round the final answers to 2 decimal places.)

Problem 1: Calculate its yield as quoted in the market.

Problem 2: Calculate its effective annual yield.

Reference no: EM132719879

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