Question: Present value with simple interest (ii) A company issues a bank bill with a face value of $1 million and a term to maturity of

Present value with simple interest (ii) A company issues a bank bill with a face value of $1 million and a term to maturity of 180 days at a yield of 8.25 per cent per annum. The company discounts the bill today. What amount will the company raise?

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