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What rate of return was earned by the original holder

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Reference no: EM132925579

Question - A commercial bill with a face value of $100,000 and 180 days to maturity is purchased with a yield to maturity of 8 per cent per annum. After the bill has been held for 55 days it is sold at a yield of 7.5 per cent per annum. What rate of return was earned by the original holder of the bill; that is, what is the holding period yield? Show your working.

Reference no: EM132925579

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