A $100,000, 90-day commercial paper certificate issued by Bell Canada Enterprises was sold on its issue date

Question:

A $100,000, 90-day commercial paper certificate issued by Bell Canada Enterprises was sold on its issue date for $98,950. What annual rate of return (to the nearest 0.001%) will it yield to the buyer?

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Business Mathematics In Canada

ISBN: 978-0070009899

7th edition

Authors: Ernest Jerome

See More Books

Question Posted: Jan 20, 2016 07:18 AM

See More Questions

A $100,000, 90-day commercial paper certificate issued by Wells Fargo Financial Canada was sold on its issue date for $99,250. What rate of return will it yield to the buyer?
Commercial paper is usually sold at a discount. Fan Corporation has just sold an issue of 90-day commercial paper with a face value of $1 million. The firm has received initial proceeds of $978,000....
The Cash account in the general ledger of Hendry Corporation shows a balance of $96,990 at December 31, 2011 (prior to performing a bank reconciliation). The companys bank statement shows a balance...
What is the one greatest strength of a pluralistic society? What is the one greatest weakness? Do these characteristics work for or against business?
List the three major types of enterprise wide information disclosures required by SFAS No. 131 [ASC 280], and explain how the firm's designation of reportable segments affects these disclosures.
Find an equation involving g, h, and k that makes this augmented matrix correspond to a consistent system: 759 102
The owners of a cabin in the mountains forgot to turn off and purge the water out of the plumbing system before the winter season. One particularly cold night, a pipe near an outside wall freezes....
A process that produces titanium forgings for automobile turbocharger wheels is to be controlled through the use of a fraction nonconforming chart. Initially, one sample of size 150 is taken each day...
KOMBUCHA CANADA INC. Plea se include a T-account with trail marks. Amelia Morgan was looking over her company's most recent sales report for April 2020. COVID-19, an infectious disease caused by a...
Imagine a company that has recently developed Chewsy, a new sugar-free gum containing fluoride using novel nanotechnology. Not only does it taste good, but it is also good for your teeth. You are...
A $100,000, 182-day Province of New Brunswick Treasury bill was issued 66 days ago. What will it sell at today to yield the purchaser 4.48%?
A chartered bank offers a rate of 5.50% on investments of $25,000 to $59,999 and a rate of 5.75% on investments of $60,000 to $99,999 in 90- to 365-day GICs. How much more will an investor earn from...
The PV diagram in Fig. 15-23 shows two possible states of a system containing 1.75 moles of a monatomic ideal gas. (P1 = P2 = 425 N / m2, V1 = 2.00 m3, V2 = 8.00 m3.) (a) Draw the process which...
4. (15pt) A group of students were asked if they have ever driven after drinking. They also were asked, "How many days per month do you drink at least two beers?" In the following discussion, 7 = the...
discuss how might you apply the concepts of Total Quality (TQ) to your personal and work environment. Consider your relations with others and your daily activities interactions with. Share the...
Dr. Bernstein wants to expand his radiology practice. Dr. Bernstein is researching various local banks for the best certificate of deposit rate to fund his expansion. One bank is willing to offer him...
An airplane is flying with a velocity of 240 m/s at an angle of 30.0 with the horizontal, as the drawing shows. When the altitude of the plane is 2.4 km, a flare is released from the plane. The flare...
Katsura Corporation incurred pre - operating costs: Investigatory expenses of $ 1 8 , 0 0 0 New employee training $ 2 5 , 0 0 0 Advertising $ 1 0 , 0 0 0 Land and building for use as a retail store...
The budgeted balance sheet is part of which element of the master budget? a. Financial budget b. Operating budget c. Capital expenditures budget d. None of the above Suppose Mallcentral sells 1,000...
Show that gj concave AHUCQ Abadie For nonnegative variables, we have the following corollary.
On June 30 Joshua Axtell and Zack Riesel formed a partnership. The partners agreed to invest equal amounts of capital. Axtell invested his proprietorship's assets and liabilities (credit balances in...
Brian turned 60 years old today and has retired from Bell Canada. The current economic value of his pension is his most significant asset. He will be receiving pension payments of $60 000 every year....
Lucy inherited a large sum of money from her aunt. She invested part of her inheritance into a fund earning 6% compounded monthly. She has arranged a systematic withdrawal plan that provides for 120...
Suppose you just won the first prize in a lottery. The lottery offers you two possibilities for receiving your winnings. The first option is to receive a payment of $10 000 at the end of the year,...
Nelo Partnership had three partners, whose capital balances on June 30 were as follows: Jack $50,000, Andy $35,000, Nick $22,000. The profit-sharing ratio is 6:4:2 (Jack, Andy, Nick). On July 1,...
Alex buys a Blu-ray disc costing $14.49. Use the table below to find the sales tax on this item. Amount of Sale ($) Tax ($) 13.70 13.89 0.69 13.90 14.09 0.70 14.10 14.29 0.71 14.30 14.49 0.72 14.50...
Show partial income statements through gross margin for all three methods, assuming both products are further processed into Current Attempt in Progress It's mind - boggling the number of products...

A $100,000, 90-day commercial paper certificate issued by Bell Canada Enterprises was sold on its issue date

Question:

Step by Step Answer:

The earnings from the certificate wil...View the full answer

Business Mathematics In Canada

Students also viewed these Accounting questions