Cardinal Investment is buying a 90-day bank bill today. The bill still has 50 days until maturity.

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Cardinal Investment is buying a 90-day bank bill today. The bill still has 50 days until maturity. The face value of the bill is $100,000. If the current market yield on this bill is 3% per annum, what is the price of the bill today?

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Financial Accounting and Reporting a Global Perspective

ISBN: 978-1408076866

4th edition

Authors: Michel Lebas, Herve Stolowy, Yuan Ding

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Posted Date: Aug 24, 2023 07:34 AM

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Cardinal Investment is buying a 90-day bank bill today. The bill still has 50 days until maturity.

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Financial Accounting and Reporting a Global Perspective

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