**Question 157** bill pricing, simple interest rate, no explanation

A 90-day Bank Accepted Bill has a face value of $1,000,000. The interest rate is 6% pa and there are 365 days in the year. What is its price?

Scores | |

keithphw | $6,001.61 |

Yuan | $1,726.43 |

Zin | $1,619.43 |

Jade | $1,555.80 |

Carolll | $1,522.43 |

Visitor | $1,428.33 |

Visitor | $1,373.33 |

zy | $1,349.70 |

cuiting | $1,289.70 |

Visitor | $1,268.61 |

Visitor | $1,251.28 |

Visitor | $1,249.70 |

Visitor | $1,153.33 |

Emma Lu | $1,100.00 |

Skywalke... | $1,070.00 |

mm11 | $1,050.33 |

ninalee | $1,039.70 |

Visitor | $1,024.70 |

Visitor | $1,015.61 |

Doris | $1,009.70 |

**Question 157** bill pricing, simple interest rate, no explanation

A 90-day Bank Accepted Bill has a face value of $1,000,000. The interest rate is 6% pa and there are 365 days in the year. What is its price?

Copyright © 2014 Keith Woodward