Essay
Meher purchased a $100 000.00, 182-day T-bill on April 4, 2012.
a) If the annual rate of return is 4.2%, calculate the purchase price.
b) Calculate the selling price of the bill if it is sold on June 20, 2012 to yield 3.19%.
c) Calculate the rate of interest realized.
Correct Answer:
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a) S = 100 000.00; r = 0.042; ...View Answer
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