On 12 March 2021 Annabel bought a 180-day $100 000 bank bill for $97 500. She sold this bank bill on 27 May 2021 at 5.5% p.a. (simple interest).

a) What was the (simple interest) purchase yield Annabel paid (expressed as a percentage and rounded to three decimal places)?

a.

10.883% p.a.

b.

12.314% p.a.

c.

5.199% p.a.

d.

5.348% p.a.