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11. If a company sells (discounts) a bank bill with a face value of $500 000, a term to maturity of 120 days, and a

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11. If a company sells (discounts) a bank bill with a face value of $500 000, a term to maturity of 120 days, and a yield of 8.45% per annum, how much will the company raise on the issue? (Ignore transaction fees.) A. $391 295.03 B. $445 312.02 C. $486 485.05 D. $486 302.48

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