Jeffrey Telecom sold $300,000 worth of 120-day commercial paper for $298,000? Show Solutions and Explanation. A.What is the dollar amount of interest paid on the commercial paper? (Format:...

Jeffrey Telecom sold $300,000 worth of 120-day commercial paper for $298,000? Show Solutions and Explanation. A.What is the dollar amount of interest paid on the commercial paper? (Format: 1,111) B.What is the effective 120-day rate on the paper? (Format: 1.11%)