Question: Answer: 2.24988% Please explain steps (3) Ms. Magnitsky purchased two newly issued Treasury bills, one issued by the U.S. Treasury and the other by the
(3) Ms. Magnitsky purchased two newly issued Treasury bills, one issued by the U.S. Treasury and the other by the Government of Canada. She paid a total of 35,592.52 U.S. dollars for the two T-bills. The U.S. Treasury bill, quoted as 3.05%, matures in 26 weeks for $21,000. The Government of Canada bill has a face value of 15,000 U.S. dollars and matures in 13 weeks. Find the rate quoted for the Canadian T-bill
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