Question: = Homework: Chapter 15 Homework Question 9, P15-18 (simi... Part 1 of 2 HW Score: 70%, 7 of 10 points O Points: 0 of 1

= Homework: Chapter 15 Homework Question 9, P15-18 (simi... Part 1

= Homework: Chapter 15 Homework Question 9, P15-18 (simi... Part 1 of 2 HW Score: 70%, 7 of 10 points O Points: 0 of 1 Save Commercial paper. Criss Cross Manufacturers will issue commercial paper a short-term cash inflow. Criss Cross must raise $5,750,000, and the paper will have a maturity of 182 days. If this paper has a maturity value of $50,000 and is selling at an annual interest rate of 9.9%, what are the proceeds from each paper; that is, what is the discount rate on the commercial paper? C. What is the discount rate on the commercial paper? % (Round to two decimal places.)

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