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A commercial bill with a face value of $100,000 has 115 days to maturity is bought by an investor for $98,910 and sold with 27
A commercial bill with a face value of $100,000 has 115 days to maturity is bought by an investor for $98,910 and sold with 27 days remaining to maturity for $99,503. Assume 365 days in a year, and please round your answer to the second decimal place. (a) What is the yield the bill was purchased for? % (Round the percentage to 2 decimal places) (b) What was the investor's holding period yield? \% (Round the percentage to 2 decimal places)
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