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What was selling price

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Reference no: EM132903762

Question - Jay purchased a 180-day $100,000 bank bill (at a simple interest rate) on 15 March 2021. The purchase price was $98,500. He sold this bank bill on 23 April 2021.

What was his selling price, if he sold this bank bill at a yield of 4.35% p.a. (simple interest)?

a. 98347.36

b. 98957.82

c. 98358.89

d. 98335.83

Reference no: EM132903762

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