Question
On 15 March 2023, Green Field, Corp. issued a bank bill with a face value of $100,000 and 90 days to maturity. The bill had
On 15 March 2023, Green Field, Corp. issued a bank bill with a face value of $100,000 and 90 days to maturity. The bill had a yield of 5 percent. Anastacia bought the bill that day, but sold it 30 days later when the yield rose to 8 percent. What is her holding-period return on this short-term investment? Provide explanation and formula in detail
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Corporate Finance
Authors: Stephen Ross, Randolph Westerfield, Jeffrey Jaffe
13th International Edition
1265533199, 978-1265533199
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