问题如下：
If an investor buys a newly issued eurocommercial paper with €50,000 par value and holds it to maturity, how much is this investor most likely to pay?
选项：
A. The investor pays less than €50,000 and receives more than €50,000 at maturity.
B. The investor pays €50,000 and receives more than €50,000 at maturity.
C. The investor pays less than €50,000 and receives €50,000 at maturity.
解释：
B is correct.
Eurocommercial paper pays add-on yield. If an investor buys a newly issued eurocommercial paper with €50,000 par value and holds it to maturity, the investor will pay the issuer €50,000 and receive €50,000 plus interest at maturity. However, U.S. Commercial paper is typically issued as a pure discount security, making a single payment equal to the face value at maturity.
请问如果是US commercial paler的话就是PV小于5000，FV等于5000了？