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Business Mathematics Brief 12th Edition by Stanley Salzman ,Gary Clendenen, Charles Miller
Edition 12ISBN: 978-0132605540Business Mathematics Brief 12th Edition by Stanley Salzman ,Gary Clendenen, Charles Miller
Edition 12ISBN: 978-0132605540 Exercise 141
A $20,000 T-bill is purchased at a 3.75% discount rate for 13 weeks. Find (a) the purchase price of the T-bill, _____________ (b) the maturity value, _____________ (c) the interest earned, _____________ and (d) the effective rate of interest to the nearest hundredth of a percent.
Explanation
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The following table is given, 
Recall th...
Business Mathematics Brief 12th Edition by Stanley Salzman ,Gary Clendenen, Charles Miller
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