**Question 147** bill pricing, simple interest rate, no explanation

A 30-day Bank Accepted Bill has a face value of $1,000,000. The interest rate is 8% pa and there are 365 days in the year. What is its price now?

Scores | |

keithphw | $6,001.61 |

Zin | $1,502.43 |

Carolll | $1,433.33 |

Visitor | $1,268.61 |

cuiting | $1,249.70 |

Jade | $1,145.80 |

Visitor | $1,108.33 |

Skywalke... | $1,070.00 |

Visitor | $1,051.28 |

mm11 | $1,050.33 |

ninalee | $1,039.70 |

Visitor | $1,024.70 |

Visitor | $1,005.61 |

Visitor | $966.00 |

victor | $934.70 |

zy | $919.70 |

Doris | $889.70 |

Visitor | $840.00 |

Yuan | $823.33 |

Emma Lu | $810.00 |

**Question 147** bill pricing, simple interest rate, no explanation

A 30-day Bank Accepted Bill has a face value of $1,000,000. The interest rate is 8% pa and there are 365 days in the year. What is its price now?

Copyright © 2014 Keith Woodward