Do not copy from anywhere   On 2 September, a 90-day bill issued with a maturity of 1 December had a quoted price of $92. One 2 October (i.e. 30 days passed), the price was $92.50. Assume the bill face value is $1mil. Suppose that Harold bought 15 bills on 2 September and sold on 2 October, how much has Harold made or lost? Choose the closest answer.   A. $107,487   B. -$7,166   C. -$107,487   D. $7,166

Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
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On 2 September, a 90-day bill issued with a maturity of 1 December had a quoted price of $92. One 2 October (i.e. 30 days passed), the price was $92.50. Assume the bill face value is $1mil. Suppose that Harold bought 15 bills on 2 September and sold on 2 October, how much has Harold made or lost? Choose the closest answer.

  A.

$107,487

  B.

-$7,166

  C.

-$107,487

  D.

$7,166

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