378                                                    14

         -
,  -         .  -
          ,  -
           ,  -
         2.

  

   (    )  
         , 
  .  ,   -
,        ,  
          
  3.

         -
      ,     .
     ,    ,  -
   .    -
    (), , 90-    $100 000
  $98 000,        -
       $2000.

          -
    (bank discount basis).   
   2%   8% .   -
,       .     , -
   [2,04% ($2000/$98 000)  100%]  ,   8,16%  
(      ,   (1.02044 - 1) 
 100% = 8,41%  ).

 Wall Street Journal  .   
       -
 ,    . 14.2.      
    .

14.S.1    

  (commercial paper)   ,  -
     ,  
,     .   , -
  ,        
  ,    . 
     ,  -
  , ,  ,   -
   .      ,
       ,  
     .       
          
  .

      $100 000  
    270  ( ,   , -
      ).   
  , ,    -
 ,        .