Advanced Engineering Mathematics
10th Edition
ISBN: 9780470458365
Author: Erwin Kreyszig
Publisher: Wiley, John & Sons, Incorporated
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Calculate the interest (in $), purchase price (in $), and effective interest rate (as a %) of the Treasury bill (T-bill) purchase. Round effective interest rate to the nearest hundredth of a percent.
Face Value |
Discount Rate (%) |
Term (weeks) |
Interest | Purchase Price |
Effective Rate (%) |
---|---|---|---|---|---|
$70,000 | 4.60 | 26 | $ | $ |
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