Question: Solve the problem. You purchase a 181-day, $1000 U.S. Treasury bill at 4.46% discount. On the date of maturity, you will receive $1000. How much

Solve the problem.

You purchase a 181-day, $1000 U.S. Treasury bill at 4.46% discount. On the date of maturity, you will receive $1000. How much did you actually pay for the Treasury bill?

Select one:

a. $1087.58

b. $977.58

c. $1022.42

d. $927.58

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