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A large Australian company funds its short-term inventory needs using a 30-day bank accepted bill with a face value of $ 500,000. It approaches two
A large Australian company funds its short-term inventory needs using a 30-day bank accepted bill with a face value of $ 500,000. It approaches two discounters that offer different yields. Discounter A offers 9.515%, while Discounter B offers 9.462%. Assume 365 days in a year. a. What's the issue price if sold to Discounter A? $ (Round answer to 2 decimal places.) b. What's the issue price if sold to Discounter B? $ (Round answer to 2 decimal places.)
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