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4. Suppose you are going to purchase a $50,000 Treasury bill with 86 days left to maturity that is selling at a quoted asked rate

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4. Suppose you are going to purchase a $50,000 Treasury bill with 86 days left to maturity that is selling at a quoted asked rate (bank discount rate) of 2.76%. How much would you pay for this bill, and what would be the bond-equivalent yield and the effective annual rate? Why is there a difference between the three rates? Please be specific. (5 pts.)

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