T-bills (Treasury bills) are one of the instruments that the U.S. Treasury Department uses to finance the
Question:
T-bills (Treasury bills) are one of the instruments that the U.S. Treasury Department uses to finance the public debt. If you buy a 180-day T-bill with a maturity value of $10,000 for $9,893.78, what annual simple interest rate will you earn? (Express answer as a percentage, correct to three decimal places.)
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Again we use formula 2 but this time we are intereste...View the full answer
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Related Book For 
Finite Mathematics For Business Economics Life Sciences And Social Sciences
ISBN: 9780134862620
14th Edition
Authors: Raymond Barnett, Michael Ziegler, Karl Byleen, Christopher Stocker
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