All of the following are correct regarding commercial paper EXCEPT:
a. It is normally issued in amounts of $25,000–$100,000.
b. It pays a higher rate of interest than T-bills.
c. It is a long-term note with maturity dates from 5 to 10 years.
d. It carries more risk than T-bills.
e. It is used for a wide variety of purposes.
c. It is a long-term note with maturity dates from 5 to 10 years.
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