A Bank Bill with a Face Value of $500 000

Multiple Choice

A bank bill with a face value of $500 000 and 90 days to maturity is purchased with a yield to maturity of 6.92% per annum.After the bill has been held for 28 days,it is sold at a yield of 6.78% per annum.What is the holding period yield for the holder of the note?

A) 3.23% per annum
B) 7.11% per annum
C) 7.15% per annum
D) 7.51% per annum