Using the Elasticity Approach,estimate the New Price of a $100 $\$ 97 \quad 565.32$

question 36

Multiple Choice

Using the elasticity approach,estimate the new price of a $100 000 90-day bank-accepted bill when the yield decreases from 9% to 7% p.a.

• A) \( \$ 97 \quad 565.32 \)
• B) \( \$ 98 \quad 565.32 \)
• C) \( \$ 98 \quad 537.08 \)
• D) \( \$ 97 \quad 357.08 \)

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