Short-term money market

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An Australian company issued a 150-day bank-accepted bill domestically with a face value of $400000. The bill was discounted at a yield of 7.36% per annum, representing a price of $388256.57. After 7 days the discounter sells the bill in the short-term money market for $387329.03. The bill is not traded again in the market.

The yield to the original discounter is ____%

Reference no: EM133075158

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