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    Commercial paper was purchased in the secondary market 30 da

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    Commercial paper was purchased in the secondary market 30 days from maturity at a bank discount yield of 9 percent. Ten days later, it was sold to a dealer at an 8 percent discount rate. What was the investor's holding-period yield?

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    Commercial paper was purchased in the secondary market 30 days from maturity at a bank discount yield of 9 percent. Ten days ...

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    The solution discusses what was the investor's holding-period yield.

    $2.49

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