Assume an investor purchased six-month commercial paper with a face value of $1,000,000 for $940,000. What is

Question:

Assume an investor purchased six-month commercial paper with a face value of $1,000,000 for $940,000. What is the yield?

Face Value
Face value is a financial term used to describe the nominal or dollar value of a security, as stated by its issuer. For stocks, the face value is the original cost of the stock, as listed on the certificate. For bonds, it is the amount paid to the...