Arbitrage may be best defined as . interest paid on short-term financings. a. any interest earned on

Question:

Arbitrage may be best defined as . interest paid on short-term financings.
a. any interest earned on investments in a Capital Projects Fund.
b. interest earned in excess of interest paid on tax-exempt debt.
c. interest paid in excess of interest earned on tax-exempt debt.
d. interest associated with any type of anticipation note.

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