Your firm invested 2497700 in 310-day commercial paper, Ask an Expert

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Your firm invested $2,497,700 in 310-day commercial paper today. At the end of the investment period (in 310 days) the firm will receive $2,596,100.

a. What is the 310-day holding period rate of return on the investment? (Round your answer to 2 decimal places.)

HPR %

b. How many 310-day periods are there in one year? (Use a 365-day year. Round your answer to 4 decimal places.)

Number of periods %

c. What is the annual percentage rate APR earned on the investment? (Round your answer to 2 decimal places.)

APR %

d. What is the effective annual rate (EAR)? (Round your answer to 2 decimal places.)

EAR %

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92101745

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