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ICMA Exam FMFQ Topic 4 Question 45 Discussion
Actual exam question for
ICMA's
Financial Markets Foundation Qualification exam
Question #: 45
Topic #: 4
[All Financial Markets Foundation Qualification Questions]
Topic #: 4
You have just bought a USD 5,000,000 of a 3 month Commercial paper (91 days) qupted at a discount to yield of 4.5% (A/360). How much will you pay for this security?
Suggested Answer:
C
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