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6. Felice purchased a 91_day T_Bill that has a face value of $5000 and an interest rate of 4% p.a. Calculate the price on its
6. Felice purchased a 91_day T_Bill that has a face value of $5000 and an interest rate of 4% p.a. Calculate the price on its issue date. 7. Merilyn, the owner of a small internet hosting business, loaned $4000 to an employee who promised to repay her $4600 after eight months. Instead of loaning this money, if she had invested it in her local bank where the interest rate was 1 % less than what she was offering her employee, how much would she have had in the bank at the end of eight months? 8. After ten months of investing $500 in a chequing account, Sarojin had a maturity amount of $680 in the account. Had she loaned this amount to her friend who was running a restaurant business, she would have received 2% more than what was being offered for her chequing account. Calculate the maturity amount after ten months had she loaned the amount to her friend
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