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Jay purchased a 210-day $100,000 bank bill (at a simple interest rate) on 15 March 2021. The purchase price was $98,500. He sold this bank
Jay purchased a 210-day $100,000 bank bill (at a simple interest rate) on 15 March 2021. The purchase price was $98,500. He sold this bank bill on 23 April 2021.
(a) What was his selling price, if he sold this bank bill at a yield of 8.7% p.a. (simple interest)?
a.
96083.73
b.
96061.73
c.
99415.65
d.
96105.74
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