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Question 913  bill pricing, money market

A 90 day bank bill has a face value of $100,000.

Investor A bought the bill when it was first issued at a simple yield to maturity of 3% pa and sold it 20 days later to Investor B who expected to earn a simple yield to maturity of 5% pa. Investor B held it until maturity.

Which of the following statements is NOT correct?




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