Question: ANZ arranges financing for Super Duper Pty Ltd with a 90 day bank bill with a Face Value of $500,000. City Investments buy the bill

ANZ arranges financing for Super Duper Pty Ltd with a 90 day bank bill with a Face Value of $500,000. City Investments buy the bill when it is first issued at a yield of 4.75% pa and sell it 30 days later to Prudential Investments at a yield of 4.55% pa. What is the role of Super Duper Pty Ltd?

a.

Investor
b.

Bank
c.

Drawer
d.

Discounter
e.

Acceptor

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