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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 this
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. (b) Assume that Mark sold this bank bill at a simple interest rate of 6.6% p.a. up to the maturity date of the above bank bill. What is the annualised (simple interest) yield for this investment from 15 July 2021 to 13 August 2021? Round your answer to 3 decimal places in terms of percentage. a. 17.468% b. 15.034% c. 17.095% d. 16.747%
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