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Assume the rate of interest quoted in the 90-day commercial paper market is 4.0%. You issued...

Assume the rate of interest quoted in the 90-day commercial paper market is 4.0%. You issued $10 million (face value) of 90-day commercial paper, with an interest rate of 4.0%. i) How much did you borrow? Show the supporting calculations. ii) If you borrowed the same amount in the Eurodollar deposit market and paid 4% interest in that market, how much would you pay back in 90 days? Show the supporting calculations. [Note: If you couldn’t figure out the answer to part (i), just assume you borrowed an amount X.]。

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