Question: SHOW ALL WORK FOR ALL HIGHLIGHTED, AND ROUND ALL VALUES TO 5 DECIMALS PLEASE . Westminster Insurance Company. Westminster Insurance Company plans to sell $2,600,000

SHOW ALL WORK FOR ALL HIGHLIGHTED, AND ROUND ALL VALUES TO 5 DECIMALS PLEASE.

SHOW ALL WORK FOR ALL HIGHLIGHTED, AND ROUND ALL VALUES TO 5

Westminster Insurance Company. Westminster Insurance Company plans to sell $2,600,000 of eurocommercial paper with a 30 -day maturity and discounted to yield 5.50% per annum. What will be the immediate proceeds to Westminster Insurance? Assume a 360 -day year. The immediate proceeds to Westminster Insurance will be $ (Round to the nearest cent.)

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