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Lada Lada
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6 years ago
You bought a $100 000 364-day T-bill. The T-bill was discounted at a rate of 5%. If you paid $99 900.00 for the T-bill, how many days before maturity did you buy it?
A) 7.3 days
B) 3.7 days
C) 37 days
D) 73 days
E) 1 day
Textbook 
Contemporary Business Mathematics with Canadian Applications

Contemporary Business Mathematics with Canadian Applications


Edition: 11th
Authors:
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