Jake purchased a $100,000 150-day T-bill discounted to yield 1.21%. When he sold it 60 days later,

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Question:

Jake purchased a $100,000 150-day T-bill discounted to yield 1.21%. When he sold it 60 days later, yields had dropped to 1.15%. How much did Jake earn? (Use 365 days a year. Do not round intermediate calculations and round your final answer to the nearest whole dollar.)