Question
1. A $100,000, 91-day Province of Ontario Treasury bill was issued 37 days ago. What will be its purchase price today in order to yield
1. A $100,000, 91-day Province of Ontario Treasury bill was issued 37 days ago. What will be its purchase price today in order to yield the purchaser 1.55%? (Use 365 days a year. Round your answer to the nearest dollar.)
Purchase price $
2. A contract requires payments of $1500, $2000, and $1000 in 100, 150, and 200 days, respectively, from today. What is the value of the contract today if the payments are discounted to yield a 10.5% rate of return? (Do not round the intermediate calculations. Round your answer to the nearest cent.) Value of the contract $
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