Question: (5 points) Consider a $500 T-bil calculated as a simple discount loan. The annual simple discount rate is 16% and the length is set to

(5 points) Consider a $500 T-bil calculated as a simple discount loan. The annual simple discount rate is 16% and the length is set to be 14 months. Find the price of the T-bill the interest eamed, and the simple interest rate paid on the bill Price of the T bill dollars Total interest earned when $500 T-bill is redeemed dollar Simple interest rate earned porcent (round to 2 decimal places)

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