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A T - bill with face value of R 1 0 , 0 0 0 and 8 7 days to maturity is selling at a

A T-bill with face value of R10,000 and 87 days to maturity is selling at a discount ask yield of
3.4%. The spread on the T-bill is R0.85.
a) What is the price of the bill?
b) What is its bond equivalent yield?
c) How much will the seller of the T-bill receive from the dealer?

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