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What amount of interest earned if bill held until maturity

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Problem 1: A bank bill with a face value of $250,000 was issued today and it matures in 40 days' time. If interest rates are 6% p.a. what amount of interest is earned if the bill is held until maturity?

a. $1,643.84

b. $15,000.00

c. $1,638.31

d. $1,591.32

e. $1,633.10

Reference no: EM132760044

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