How much will bhp raise from the issue of the bill, Financial Accounting

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How much will bhp raise from the issue of the bill

Problem

BHP Ltd has decided to issue a $1,000,000 face value 90-day bank accepted bill into the market to fund the purchase of new machinery. The bill has a yield of 6.5% per annum.

1. How much will BHP raise from the issue of this bill (to the nearest dollar)?

2. The original discounter of the bill (Investor A) decides to sell the BHP bill in the secondary market (to Investor B) 20 days later for a price of $989,241. Investor B holds the bill until it matures. What rate of return is earned by the original investor (Investor A), AND the holder until maturity (Investor B)?

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