y courses FIN201 Assessments 2 Online quiztechniques revi

y courses / FIN201 / Assessments / 2. Online quiz-techniques review (1096) QuiZ A bank offers a 221 day bank accepted commercial bill at a rate of 6.7% pa. How much money would a borrower receive today it he was to obtain a loan with a face value of $8416? t of Answer Finish a Time left Next page us page

Solution

N=221/365

I/Y=6.7%

FV=8416

PMT=0

CPT PV=8092

Hence a person would receive 8092 today