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Example 3: A company decides to fund its shortterm inventory needs by issuing a 30day bankaccepted bill with a face value of $500 000. Having

Example 3: A company decides to fund its shortterm inventory needs by issuing a 30day bankaccepted bill with a face value of $500 000. Having approached two prospective discounters, the company has been quoted yields of 9.52% per annum and 9.48% per annum. Which quote should the company accept, and what amount will the company raise?

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