A US company issued a 30-day bank-accepted bill with a face value of $100,000. The bill was

Fantastic news! We've Found the answer you've been seeking!

Question:

A US company issued a 30-day bank-accepted bill with a face value of $100,000. The bill was trading at $99,185. After eight days the discounter sells the bill in the short-term money market for $99,380. The bill is not traded again in the market. Calculate the yield to the original discounter.

A) 10.25%

B) 8.97%

C) 8.85%

D) 10.00%

Posted Date: Jun 05, 2024 12:12 PM

See More Questions

How must transaction processing systems be managed, given their mission-critical role in many organisations?
Bullen & Company makes and sells high-quality glare filters for microcomputer monitors. John Crave, controller, is responsible for preparing Bullens master budget and has assembled the following data...
According to Building Science for a Cold Climate, in the past, who provided the direction and supervision of all aspects of building construction? Question 13 options: a) The designer. b) The...
The company determines that the interest expense on a note payable for the period ending December 31 is $390. This amount is payable on January 1. Prepare the journal entries required on December 31...
When looking at your clients tax situation, you see they have paid a sizable amount of student loan interest of the following is not a good piece of advice to give them? O The tax law allows...
X Incorporated manufactures a single product called Product X and is sold at 100 per unit. Cost related to Product X at normal capacity of 625,000 direct labor hours are as follows: Direct Materials...
1- Describe the five-stage model of team development. 2- Describe the three dimensions of skill differentiation, authority differentiation, and temporal stability that comprise team structure....
George works as the office manager for Potato LLC, a medium-sized law firm. One afternoon, he went to the hardware store to purchase a few maintenance items for the office. While there, he also...
9- Suppose that five years ago Cisco Systems sold a bond issue to 15 years who had a face value of $ 1,000 and a coupon rate of 7%. Interest is paid semiannually. If the current interest rate...
What kinds of businesses would depend on floor planning? LO.1
An applicants ability to repay a loan is called _____________.
The SBA loan program that slashed paperwork and approval time is the _____________ program.

A US company issued a 30-day bank-accepted bill with a face value of $100,000. The bill was

Question:

Expert Answer:

Students also viewed these finance questions