A firm has directly placed an issue of commercial paper that has a maturity of 60 days. The issue sold for $980,000 and has an annual interest rate of 12.24 percent
The value of the commercial paper at maturity is ________ (assume 360 days in a year).
A) $19,992
B) $980,000
C) $1,000,000
D) $960,008
C
You might also like to view...
In comparing the relative emphasis Chinese and American managers place on performance versus relationships, which of the following is true?
A. When making bonus decisions, Chinese managers tend to place less emphasis on employees' work performance than do American managers. B. When making decisions about nonmonetary recognition of employees, American managers place more emphasis on employees' relationships with coworkers than do their Chinese counterparts. C. Chinese managers tend not to take personal needs into consideration when making bonus decisions. D. American managers tend to give larger bonuses to employees with greater personal needs.
The liability of a stockholder is usually limited to the stockholder's investment in the corporation
Indicate whether the statement is true or false
Which of the following attributes or dimensions of big data is described as the diversity in types and structures of data generated?
A. Volume B. Variety C. Veracity D. Velocity
In decision-making, we use the normal distribution when there are ________
Fill in the blanks with correct word