Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Selena purchased a 2 1 0 - day $ 2 0 0 0 0 0 bank bill ( at simple interest ) on 1 4

Selena purchased a 210-day $200000 bank bill (at simple interest) on 14 March 2023. Her purchase price was $197000. She sold this bank bill on 22 April 2023.
What was her selling price, if she sold this bank bill at a yield of 4.3% p.a.(simple interest)? The correct answer is: 196050.522

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Ethics In Finance

Authors: John R. Boatright

3rd Edition

1118615824, 978-1118615829

More Books

Students also viewed these Finance questions