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What amount will the company raise to fund the project

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Reference no: EM132977085

Problem 1: A company issues a bank-accepted bill to fund a short-term business project. The bill is issued for 180 days, with a face value of $1 500 000 and a yield of 9.87 per cent per annum. What amount will the company raise to fund the project?

Problem 2: After 43 days, the bank bill in problem 1 is sold by the original discounter into the secondary market for $1 447 326.50. The purchaser holds the bill to maturity. What is the yield received by:

Reference no: EM132977085

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