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22. How much should Mickey invest in Treasury bills if he expects to receive Php1.0MM at the end of 180 days at a gross

22. How much should Mickey invest in Treasury bills if he expects to receive Php1.0MM at the end of 180 days at a gross discounted rate of 4.75%? (a) Php 976,800.98 Php 981,400.78 Php 954,653.93 (d) Php 963,391.13 ANS: (b)

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