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Cunderdin Investments is buying a 1 8 0 - day bank bill today. The bill matures in 1 8 0 days' time. The bill has

Cunderdin Investments is buying a

180 -

day bank bill today. The bill matures in

180

days' time. The bill has a face value of $

500000

and the current market yield on this bill is

2.8 %

.

What is the price that Cunderdin Investments will have to pay to buy the bill today?

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