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Today is 22th March 2020. Jane just purchased a 180-day $100,000 bank bill at a simple interest rate. The purchase price is $98,500. She sold

Today is 22th March 2020. Jane just purchased a 180-day $100,000 bank bill at a simple interest rate. The purchase price is $98,500. She sold this bank bill on 23th May 2020 at 3.44% p.a. simple interest rate.

a) What is the implied per annual simple interest rate for her purchasing (expressed as a percentage and rounded to three decimal places)?

a. 0.090

b. 0.031

c. 0.077

d. 0.032

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