• A company issues a 180-day bill, with a face value of $100,000 yielding 8.75 percent per annum. What amount would the company raise on the issue?
• Consider the same bill from Example 1. the original discounter has held the bill for ninety days, and the bill now has only ninety days to maturity. Current 90-day bills are yielding 7.8 percent per annum in the market. If the holder of the bill chose to sell the bill, what price would be obtained?