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10.9 Bill Smith Sportstore has funds to invest for a short period. Bill, the owner, approaches his bank and finds he can lend funds to
10.9 Bill Smith Sportstore has funds to invest for a short period. Bill, the owner, approaches his bank and finds he can lend funds to other businesses for short periods via the bank-accepted bill medium. Bill is happy that there is little risk with the bank acceptance of the security. Bill pays over the funds to finance a $100000 commercial bill for 180 days at 6.3% yield. How much does Bill pay to the bank? How much will Bill be repaid at the end of the period
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