Question: Jay purchased a 1 8 0 - day $ 5 0 0 , 0 0 0 bank bill ( at a simple interest rate )

Jay purchased a 180-day $500,000 bank bill (at a simple interest rate) on 16 July 2023. The purchase price was $490,550. He sold this bank bill on 12 August 2023.
What was his selling price, if he sold this bank bill at a yield of 3.67% p.a.(simple interest)? Round your answer to three decimal places.

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