How Much Funds Will I Receive from Issuing in Australia

question 36

Multiple Choice

How much funds will I receive from issuing in Australia a 180- day commercial bill of $70 000 at a yield of 7.2% (assuming no fees) ?

• A)$67 567.75
• B)$72 800.67
• C)$67 599.75
• D)$67 514.52

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Definitions:

Adam Smith

An 18th-century Scottish economist and philosopher, best known for his works "The Wealth of Nations," which laid the foundations of classical free-market economic theory.

European Colonization

The process by which European powers occupied and controlled lands outside their continent, starting in the late 15th century, often resulting in significant cultural and economic changes.

"Discovery"

Often refers to the European "discovery" of lands outside of Europe, although these lands were already inhabited, marking the beginning of colonization.

Andes Mountain Chain

A continuous range of high mountains along the western coast of South America, extending over 7,000 km and including many of Earth’s highest peaks.