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 price does City Investments pay for the bill? Group of answer choices $494,452.65 $496,126.14 $498,055.54 $500,000.00 $494,211.63

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