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How much money will abc corporation receive for the note

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Problem 1: ABC Corporation wishes to raise money by selling a 90-day promissory note in the short-term money markets. The note promises to pay the holder $13,000,000 at maturity. If yields on similar risk notes are currently 2.9% p.a., how much money will ABC Corporation receive for the note?

Reference no: EM133008416

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