Calculate the price on its issue date of $100,000 face value, 90-day commercial paper issued by G E Capital Canada if the prevailing market rate of return is 0.932 simple interest%.

Commercial Paper

An unsecured, short-term debt instrument issued by corporations, typically used for the financing of payroll, accounts payable, and inventories.

Market Rate

The prevailing rate at which a specific asset can be bought or sold in the marketplace, often influenced by supply and demand.

Simple Interest

Interest charged exclusively on the principal sum, or on the part of the principal that has not been paid yet.