Multiple Choice
A company invests its surplus funds by buying a commercial bill with a face value of $100 000,at a current yield to maturity of 7.35% per annum and 120 days to maturity.After 45 days,the bill is sold at a yield of 6.84% per annum.What rate of return did the company earn on the bill?
A) 4.85% per annum
B) 8.01% per annum
C) 8.09% per annum
D) 8.90% per annum
Correct Answer:
Verified
Correct Answer:
Verified
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