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Question 5 Your supervisor has asked you to do the following calcuiations: (a) A bank bill with 90 days to maturity is issued with a

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Question 5 Your supervisor has asked you to do the following calcuiations: (a) A bank bill with 90 days to maturity is issued with a yield of 3% pa. Face value is $100,000. Calculate the issue price of the bill. (b) The bill in part (b) is sold after 30 days at a yield of 2.4% pa. Calculate and explain the holding period yield. (Accurate to the nearest dollar and rates as a percentage accurate to one basis point)

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