How much funds will I receive from issuing in Australia a 90-day commercial bill of $50 000 at a yield of 6.6% (assuming no fees)?
A)$49 199.33
B)$50 800.67
C)$49 188.39
D)$49 186.30

Question

Quizplus · Accepted Answer

The correct answer is A because the funds received from issuing a 90-day commercial bill of $50,000 at a yield of 6.6% (assuming no fees) is $49,199.33. This is calculated as follows:Funds received = $50,000 x (1 - (6.6% x 90/360)) = $49,199.33

How Much Funds Will I Receive from Issuing in Australia