A commercial bill with a face value of P100 000 has a current price of P97 711. This bill has 95 days to maturity what is its yield? (answer is in percentage without space, e.g. 15%)

EBK CONTEMPORARY FINANCIAL MANAGEMENT
14th Edition
ISBN:9781337514835
Author:MOYER
Publisher:MOYER
Chapter2: The Domestic And International Financial Marketplace
Section: Chapter Questions
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A commercial bill with a face value of P100 000 has a current price of P97 711. This bill has 95 days to maturity what is its yield? (answer is in percentage without space, e.g. 15%)

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