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Mark purchased a 60 -day $500,000 bank bill (at a simple interest rate) on 15 July 2021 . The purchase price was $490,550. He sold
Mark purchased a 60 -day $500,000 bank bill (at a simple interest rate) on 15 July 2021 . The purchase price was $490,550. He sold this bank bill on 13 August 2021. (a) What was his selling price, if he sold this bank bill at a yield of 6.6% p.a. (simple interest)? Round your answer to three decimal places. a. 497302.31 b. 494633.56 c. 497123.49 d. 497212.883
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