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Today is November 1 2021, Jason plans to make a 360-day investment using two consecutive 180-day $500,000 bank bills. The maturity proceeds of the first
Today is November 1 2021, Jason plans to make a 360-day investment using two consecutive 180-day $500,000 bank bills. The maturity proceeds of the first bill will be rolled over into the second bill. The purchase yields for the two 180-day bills will be 3.11% and 3.35% p.a., respectively. Note that any surplus funds after 180 days can be invested for 180 days at a rate of 3.91% p.a. simple interest. b) Calculate the price of second bank bill. Round your answer to four decimal places. O a. 491873.9725 O b. 490541.2888 O c. 492365.8464 O d. 491382.5899
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