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What is the price of an Australian 180-day bill with a face value of $1,000,000 when the interest rate is 5.3% p.a. nominal and it

What is the price of an Australian 180-day bill with a face value of $1,000,000 when the interest rate is 5.3% p.a. nominal and it is assumed that there are 365 days in a year?

a. 987,100.09

b. 974,184.12

c. 974,528.76

d. 974,853.68

e. 987,184.49

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