1. On May 22nd, Mary purchased a 6-month Government of Canada T-bill with a face value of $12,000 and a rate that would yield a 3.02% return. There is 169 days remaining in the term. Mary then sold the T-bill 30 days later on June 21st when the rate was at 2.05%. (Hint: a timeline might be helpful)

(a) How much did Mary pay for the T-bill when she purchased it on May 22nd?

(b) What was the price that Mary sold the T-bill at June 21st?

(c) What is the rate of return realized by Mary from the sale of the T-bill?

2. Steve agreed to pay you $1,500 6 months ago and then another $500 today. Steve wasn't able to pay you the $1,500, so he offers to pay you $2,100 today. If money can earn 3.50%, would you accept his payment for full settlement of the debt?

3.The current exchange rates show that C$1.00 = US$0.9672. If you have $120 Canadian dollars, what is the equivalent amount in US dollars?

Select one:

a.$143.71

b.$120.97

c.$116.06

d.$124.07

4.How many days are between October 18, 2020 and April 3, 2021?

Select one:

a.166 days

b.168 days

c.165 days

d.167 days