Question: A bank purchases a new 52-week $1,000,000 face value Treasury bill for $950,000. (1) what is the rate of return? (2) what is the discount

A bank purchases a new 52-week $1,000,000 face value Treasury bill for $950,000. (1) what is the rate of return? (2) what is the discount or bankers rate on this T-bill? (Hint: A 52-week T-bill has an original maturity of 364 days)

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