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How much is the current price of promissory note

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Porblem 1: A commercial bill that has a face value of $50,000 has a current price of $49,291. This bill is trading at a yield of 7.5% which necessarily implies a time to maturity of how many days?

Porblem 2: A promissory note that has a face value of $500,000 has 45 days until maturity. If the relevant yield is 7%, how much is the current price of this promissory note?

Reference no: EM132882882

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