Calculate the sale price of bank bill d and bank bill

Reference no: EM132173249

Question - Matt plans to use part of the sale proceeds to purchase two bank bills today. Matt will use the remaining part of the sale proceeds for living expense.

Bank bill D is a 180-day $40,000 bank bill. The purchase yield rate is 3.1% p.a. (simple interest rate).

Bank bill E is a 270-day $50,000 bank bill. The purchase yield rate is 3.2% p.a. (simple interest rate).

Calculate the purchase price of bank bill D and bank bill E. Round your answer to three decimal places.

Matt plans to sell both bank bill D and bank bill E on 1 October 2018 and use the sale proceeds to purchase a car. Calculate the sale price of bank bill D and bank bill.

Assume the sale yield rate is 3% p.a. (simple interest rate). Round your answer to three decimal places.

From Matt's perspective, draw a carefully labelled cash flow diagram to represent the above financial transactions.

Reference no: EM132173249

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