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the current value of a bill maturing in 40 days is 12 561 50 calculate the nominal value of this effect knowing that it wa

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The current value of a bill maturing in 40 days is €12,561.50. Calculate the nominal value of this effect knowing that it was discounted at the rate of 2.75%.

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Answer to a math question The current value of a bill maturing in 40 days is €12,561.50. Calculate the nominal value of this effect knowing that it was discounted at the rate of 2.75%.

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To calculate the nominal value of a bill that was discounted at a certain rate, we can use the discounted value formula: Nominal Value = Discounted Value / (1 - Discount Rate * Time) Given: Discounted Value = €12,561.50 Discount Rate = 2.75% = 0.0275 Time = 40 days First, we need to convert the time from days to years by dividing by 365 (assuming a 365-day year): Time = 40 days / 365 days/year ≈ 0.1096 years Now we can calculate the nominal value: Nominal Value = €12,561.50 / (1 - 0.0275 * 0.1096) Nominal Value = €12,561.50 / (1 - 0.003007) Nominal Value ≈ €12,561.50 / 0.996993 Nominal Value ≈ €12,599.47 Therefore, the nominal value of the bill is approximately €12,599.47

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