Multiple Choice
A company has decided to issue a 120-day bank-accepted bill to raise additional funding of $250 000 to buy equipment.If the bank has agreed to discount the bill at a yield of 7.65% per annum,what will be the face value of the bill?
A) $230 875
B) $250 000
C) $256 287.67
D) $312 876.71
Correct Answer:
Verified
Correct Answer:
Verified
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