Bondi Beachwear Pty Ltd takes out a short-term loan through Witch Bank using a bill of exchange.The face value of the bill is $200 000 and it will mature in 60 days.If the interest rate quoted by the bank is 6.50% per annum what is the amount that Bondi Beachwear will receive (to the nearest dollar) ?
A) $198 786
B) $197 875
C) $187 793
D) $178 793
E) $197 886
Correct Answer:
Verified
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