How Much Funds Will I Receive from Issuing in Australia

question 32

Multiple Choice

How much funds will I receive from issuing in Australia a 90-day commercial bill of $50 000 at a yield of 6.6% (assuming no fees) ?

• A)$49 199.33
• B)$50 800.67
• C)$49 188.39
• D)$49 186.30

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Definitions:

Executory Contract

An executory contract is a contract in which not all obligations have been fulfilled by one or more parties.

Necessary

Refers to something required or indispensable for a particular purpose or need.

Disaffirm

The act of renouncing or rejecting a legal contract or agreement, typically used in the context of minors disaffirming contracts.

Misrepresenting Age

The act of falsely stating one's age, typically for the purpose of obtaining age-restricted goods, services, or rights.