on 21 March 2012, PQ ltd purchased a bank bill maturing in 60 days on 20 May 2012 for $988,784.74. Face vavlue of the bill was $1 million. Two weeks later, they sold the bill at a yield of 6.75 per cent per annum. Calculate

a) the sale price received by PY LRD?

b) the simple annual interest rate earned>