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Westminster Insurance Company. Westminster Insurance Company plans to sell $2,000,000 of eurocommercial paper with a...

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Westminster Insurance Company. Westminster Insurance Company plans to sell $2,000,000 of eurocommercial paper with a 60-day maturity and discounted to yield 4.60% 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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