Multiple Choice
If a company sells (discounts) a bank bill with a face value of $100 000,a term to maturity of 90 days,and a yield of 7.23% per annum,how much will the company raise on the issue? (Ignore transaction fees.)
A) $84 869.90
B) $98 248.49
C) $98 269.99
D) None of given answers.
Correct Answer:
Verified
Correct Answer:
Verified
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