Question: Jake purchased a $ 2 5 , 0 0 0 6 0 - day T - bill discounted to yield 1 . 2 0 %

Jake purchased a $25,00060-day T-bill discounted to yield 1.20%. When he sold it 30 days later, yields had dropped to 1.14%. How
much did Jake earn? (Use 365 days a year. Do not round intermediate calculations and round your final answer to 2 decimal
places.)
Jake earned
$
 Jake purchased a $25,00060-day T-bill discounted to yield 1.20%. When he

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