A bank accepts 90 day bills with a face value of $20 million for a fee of 120 bps.This bill is sold to an investor at a yield of 4% p.a.The amount paid by the investor is $19 804 666.30.

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The Answer of A bank accepts 90 day bills with a face value of $20 million for a fee of 120 bps.This bill is sold to an investor at a yield of 4% p.a.The amount paid by the investor is $19 804 666.30.

A Bank Accepts 90 Day Bills with a Face Value