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Calculate its yield as quoted in the market

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Question - Lett's commercial paper is presently selling at a discount. It sells for 97.29 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.)

a. Calculate its yield as quoted in the market.

b. Calculate its effective annual yield.

Reference no: EM132503861

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