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11. A91-day Treasury bill with a face value of $1 million is sold to yield 5.27 percent. a. At what price did the T-bill sell

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11. A91-day Treasury bill with a face value of $1 million is sold to yield 5.27 percent. a. At what price did the T-bill sell if the yield was quoted by the market? b. At what price did the T-bill sell if the yield was an effective annual yield? 19 CJ

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