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An Australian company issued a 30-day bank-accepted bill domestically with a face value of $700000. The bill was discounted at a yield of 6.47% per
An Australian company issued a 30-day bank-accepted bill domestically with a face value of $700000. The bill was discounted at a yield of 6.47% per annum, representing a price of $696297.22. After 14 days the discounter sells the bill in the short-term money market for $697334.46. The bill is not traded again in the market. The yield to the current holder at maturity is ___%
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