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Global Travel Limited has issued a bank accepted bill purchased by Jill to fund a short-term investment project. The bill was initially issued for 180

Global Travel Limited has issued a bank accepted bill purchased by Jill to fund a short-term investment project. The bill was initially issued for 180 days, with a face value of $100,000 and a yield of 6.5% p.a. The bill is then purchased by an investor named Bob 60 days after it was initially sold into the money market, at which time market yields have fallen to 5.5%. (a) Calculate the amount Global Travel Limited should have raised upon issue of the bill.(3 marks) (b) Calculate the amount Jill sold the bill for. (3 marks) (c) What profit/loss in dollar value did Jill make? (2 marks)

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