On 31 August 2018, SisterCo issued a 180-day bank bill with a face value of $100,000 at a yield of 5.5% p.a. The bill was accepted and discounted by BankOne on that date. BankOne held the bill for 97 days and then sold it to BankTwo at a yield of 5.9% p.a. How much did BankOne receive when it sold the bill to BankTwo? Round your answer the whole dollar

A.

$95,897

B.

$98,989

C.

$97,676

D.

$98,676

E.

$96,783

You want to buy a new car and are considering a payment plan where you will make monthly payments of $1,000 for two years, starting at the end of this month. You have been quoted a rate of 5.5% p.a. compounding semi-annually. What is the price of the car today? (Round your answer to the whole dollar)

A.

$29,345

B.

$22,692

C.

$20,001

D.

$24,968

E.

$25,894