If a six-month Treasury bill is purchased for $0.9675 on a dollar (i.e., $96,750 for a $100,000

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If a six-month Treasury bill is purchased for $0.9675 on a dollar (i.e., $96,750 for a

$100,000 bill), what is the discount yield, the annual rate of interest, and the compound rate? What will these yields be if the discount price falls to $0.94 on a dollar (i.e.,

$94,000 for a $100,000 bill)?

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