1-An investor purchased a 91-day, Government of Canada T-bill that had a simple interest rate of 3.50% p.a. and face value of $150,000. Calculate the price he paid for the T-bill.

2-George purchased a 91-day T-bill with interest rate of 4.75% p.a. and a face value of $10,000.

a. How much did George pay for the T-bill?

Round to the nearest cent

b. After 38 days, George sold the T-bill when the interest rate for this T-bill in the market increased to 5.00% p.a. What was the selling price?

Round to the nearest cent