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What is the effective day rate on the paper

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Question - Horizon Telecom sold $300,000 wor th of 120-day commercial paper for $298,000. What is the dollar amount of interest paid on the commercial paper? What is the effective 120-day rate on the paper?

Reference no: EM131794294

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What is the effective day rate on the paper : Horizon Telecom sold $300,000 wor th of 120-day commercial paper for $298,000. What is the dollar amount of interest paid on the commercial paper
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