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If I place 1,000,000 on deposit on Thursday 30th September for 1-month at a rate of 4.00% what interest do I receive at maturity? Assume
If I place 1,000,000 on deposit on Thursday 30th September for 1-month at a rate of 4.00% what interest do I receive at maturity? Assume interest is calculated on an ACT/ACT basis and that the following business day convention is used. The 30th October is a Saturday
Answer Options:
3,178.08
3,555.56
3,506.85
3,333.33
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