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11. If a company sells (discounts) a bank bill With a face value of $100 000, a term to maturity of 90 days, and a

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11. 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

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