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FM201 Questions 1. As a lending manager with Mega Bank, you have been asked by a corporate client to explain commercial bill financing. Describe the structure of a bankaccepted bill facility. Include in your answer definitions and explanations of the roles of the parties involved in the process. 2 (a). A company issues a bank-accepted bill to fund a short-term business project. The bill is issued for ninety days, with a face value of $100 000 and a yield of 9.50 per cent per annum. What amount will the company raise to fund the project? 2(b). After twenty-seven days, the bank bill in 2(a) is sold by the original discounter into the money market for $98 380.15. The purchaser holds the bill to maturity. What is the return to: (i) the original discounter? (ii) the holder at maturity? 3. What is a negotiable certificate of deposit (CD)? In your answer, identify which type of institution might issue CDs and explain why it might issue them. 4. A customer of a bank has $275 000 in surplus funds that need to be invested for a short period of time. The bank offers to sell a 90-day negotiable certificate of deposit to the customer at a yield of 6.45 per cent per annum. The customer wants to know the dollar return on the CD. Calculate the face value of the security