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John purchased a 180-day $500,000 bank bill (at a simple interest rate) on 15 July...

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Finance

John purchased a 180-day $500,000 bank bill (at a simple interest rate) on 15 July 2021. The purchase price was $490,550. He sold this bank bill on 13 August 2021. (a) What was his selling price, if he sold this bank bill at a yield of 3.89% p.a. (simple interest)? Round your answer to three decimal places.

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