A $100,000, 90-day commercial paper certificate issued by Wells Fargo Financial Canada was sold on its issue

Question:

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?

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 07:15 AM

See More Questions

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?
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...
The stator of a 220-V, 60-Hz induction motor has 12-turn coils. You wish to re-wound it for working at 380-V, 50-Hz. While maintaining the flux same as of original motor, calculate the number of...
On January 1, 2008, Tony and Jon formed T&J Personal Financial Planning with capital investments of $480,000 and $340,000, respectively. The partners wanted to draft a profit and loss agreement that...
A graphing surprise. At time t = 0, a burrito is launched from level ground, with an initial speed of 16.0 m/s and launch angle. Imagine a position vector continuously directed from the launching...
The table below shows the intensity of the radio signal received at Earth from a spacecraft on its way to the outer solar system, as a function of its distance from Earth. Distances are in...
Break-Even Quantity Shapland Inc. has fixed operating costs of $500,000 and variable costs of $50 per unit. If it sells the product for $75 per unit, what is the breakeven quantity?
Financial Risk deals with O d. Dual Banking System O b. Variations in returns or net income over time O a. Debt and equity structures of a business O c. Loan default risk
In June 1999, Charles Schwab offered investors an Equity-linked Certificate of Deposit (CD). This product offered: i. A guaranteed minimum repayment of invested amount plus $200 at the end of 10...
Jake purchased a $100,000 182-day T-bill discounted to yield 5.5%. When he sold it 30 days later, yields had dropped to 5.0%. How much did Jake earn? (Taken from CIFP course materials.)
Debra paid $99,615 for a $100,000 T-bill with 30 days remaining until maturity. What (annual) rate of interest will she earn? (Taken from CIFP course materials.)
An agent for a residential real estate company in a large city has the business objective of developing more accurate estimates of the monthly rental cost for apartments. Toward that goal, the agent...
Q10: Region ( experienced compressive stresses and has a than the rest of the bracket. Region ( ) experienced tension stresses and has a of the bracket. Deep Drawing and Stretch Forming width (into...
A sample of 1500 computer chips revealed that 32% of the chips do not fail in the first 1000 hours of their use. The company\'s promotional literature claimed that above 29% do not fail in the first...
The 75 lb block is released from rest 5 ft above the plate. Determine the compression of each spring when the block momentarily comes to rest after striking the plate. Neglect the mass of the plate....
Indiana Soy Products (OSP) buys soybeans and processes them into other soy products. Each ton of soybeans that OSP purchases for $250 can be converted for an additional $180 into 675 lbs of soy meal...
The 2025 Annual Report of Splish International contains the following informatio (in millions) June 29, 2025 June 27, 2024 Total assets $1,545 $1,502 Total liabilities 989 1,060 Net sales 2,800 2.971...
Refer to Short Exercises S20-8 and S20-9. Use Fresh Foodss costs per equivalent unit of production for direct materials and conversion costs that you calculated in Short Exercise S20-9. Calculate the...
What is your opinion of advertising awards, such as the Cannes Lions, that are based solely on creativity? If you were a marketer looking for an agency, would you take these creative awards into...
The September 1, 2009, edition of CFO.com contains an article by Marie Leone and Tim Reason entitled Dirty Secrets. You can access this article at www.cfo.com/article.cfm/ 14292477?f=singlepage....
Ms Fleming has 145,000 with which she purchases an annuity on February 1, 2008. The annuity consists of six annual receipts, the first to be received on February 1, 2009. How much will she receive in...
In the preceding Exercise 10 through 15, you computed a number. To do so, first you must decide on the appropriate factor from the tables, and then you use that factor in the appropriate calculation....
Effective interest rate. State the rate per period and the number of periods in the following: a. 12% per year, for 5 years, compounded annually b. 12% per year, for 5 years, compounded semiannually...
Just work out the assignment on your own sheet, you dont need the excel worksheet. Classic Coffee Company Best friends, Nathan and Cody, decided to start their own business which would bring great...
Financial information related to the proprietorship of Ebony Interiors for February and March 2019 is as follows: February 29, 2019 March 31, 2019 Accounts payable $310,000 $400,000 Accounts...
(b) The directors of Maureen Company are considering two mutually exclusive investment projects. Both projects concern the purchase of a new plant. The following data are available for each project...

A $100,000, 90-day commercial paper certificate issued by Wells Fargo Financial Canada was sold on its issue

Question:

Step by Step Answer:

Effectively the interest earned by the b...View the full answer

Business Mathematics In Canada

Students also viewed these Accounting questions