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Calculate the issue price of the bill

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Reference no: EM132918267

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(a) A bank bill with 90 days to maturity is issued with a yield of 0.05% pa. Face value is $10,000,000. Calculate the issue price of the bill.

(b) The bill in part (a) is sold after 50 days at a yield of 0.06% pa. Calculate and explain the nominal annual holding period yield.

Reference no: EM132918267

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