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Calculate the price he expects to receive

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Question - A business named ABC Ltd has invested in a 90-day bill. With 45 days left to maturity and a face value of $100,000 Andrew, the owner of the business chooses to sell it on the secondary market. If 90-day bills are currently yielding 1.95% per annum, assuming Andrew sells at this yield, calculate the price he expects to receive.

a. $100,000.00

b. $240.41

c. $99,997.60

d. $99,760.17

Reference no: EM133066126

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