Question
Jay purchased a 180-day $100,000 bank bill at a simple interest rate on 22th March 2020. The purchase price is $98,500. He sold this bank
Jay purchased a 180-day $100,000 bank bill at a simple interest rate on 22th March 2020. The purchase price is $98,500. He sold this bank bill on 24th May 2020.
(i) What is his selling price, if he sold this bank bill at 3.98% p.a. simple interest rate?
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Engineering Economy
Authors: Leland T. Blank, Anthony Tarquin
8th edition
73523439, 73523437, 978-0073523439
