Question
A $112,000, 90-day commercial paper certificate issued by Bell Canada Enterprises was sold on its issue date for $110,100.
What annual rate of return will it yield to the buyer? (Use 365 days a year. Do not round your intermediate calculations. Round your final answer to three decimal places.)
What annual rate of return will it yield to the buyer? (Use 365 days a year. Do not round your intermediate calculations. Round your final answer to three decimal places.)