Bloomfield Beverages Ltd has adopted the practice of financing its balance sheet through the use of promissory notes. Bloomfield just issued a new 180-day note, with a face value of $50 million. The note can be discounted (sold) today for $48,102,267. 

What is the interest rate that Bloomfield is paying on the issued? Please Show all calculation.

Answer rating: 100% (QA)

Calculating the Interest Rate on Bloomfields Note We can find the inte... View the full answer