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A $500,000 268-day Treasury Bill was issued to Buyer #1 at 4.1%. 168 days before the T-Bill reached ...

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A $500,000 268-day Treasury Bill was issued to Buyer #1 at 4.1%. 168 days before the T-Bill reached ...

A $500,000 268-day Treasury Bill was issued to Buyer #1 at 4.1%. 168 days before the T-Bill reached maturity it was sold by Buyer #1 at a rate that would provide Buyer #2 with a return of 3.4% if Buyer #2 held the T-Bill to maturity. What annual simple rate did Buyer #1 actually realize over the period that Buyer #1 held the T-Bill? Round to the nearest 0.01%

▸ 4.10%

▸ 3.09%

▸ 5.19%

▸ 4.47%

▸ 6.77%

Textbook

Business Mathematics in Canada

Edition: 11^th

Authors: Jerome, Worswick

Read 223 times

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More solutions for this book are available here

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