John purchased a 150-day $500,000 bank bill (at a simple interest rate) on 15 July...
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John purchased a 150-day $500,000 bank bill (at a simple interest rate) on 15 July 2021. The purchase price was $490,550. He sold this bank bill on 13 August 2021. (b) Assume that John sold this bank bill at a simple interest rate of 2.87% p.a. up to the maturity date of the above bank bill. What is the annualised (simple interest) yield for this investment from 15 July 2021 to 13 August 2021? Round your answer to 3 decimal places in terms of percentage. a. 12.487% O b. 11.846% O c. 12.156% d. 11.266%
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