ACI
3I0-012 · Question #685
A 1-month (30-day) USCP with a race value of USD 5 million is quoted at a rate of discount of 2.31%. How much is the paper worth?
The correct answer is B. USD 4,990,375.00. See the full explanation below for the reasoning.
Question
A 1-month (30-day) USCP with a race value of USD 5 million is quoted at a rate of discount of 2.31%. How much is the paper worth?
Options
- AUSD 4,884,500.00
- BUSD 4,990,375.00
- CUSD 4,990.506.85
- DUSD 4,990,393.49
How the community answered
(51 responses)- A16% (8)
- B73% (37)
- C8% (4)
- D4% (2)
Community Discussion
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