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A 3 3 0 - day T - Bill is currently selling at a discount rate of 3 . 9 7 % . What will

330 -

day T

-

Bill is currently selling at a discount rate of

3.97 % .

What will be the price of the T

-

Bill with a face value of $

2

million? What is the return on the T

-

bill if the investor holds until maturity?

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