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3 8 Treasury Management ( tmd , 2 0 2 4 ) Current spot rates are given in the table below. Based on pure expectation

38

Treasury Management

(

tmd

, 2024)

Current spot rates are given in the table below.

Based on pure expectation theory, in exactly

2

years' time, what price should a

12 -

month bank bill with face value of $

10, 000

sell for?

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