A T-bill of face value $100 matures on January 1, 1995, at a simple discount of 6% per year. Find the present value on July 1, 1994. Find the value of i equivalent to d. A store is running a promotion during which customers have two options for payment. Option one is to pay 90% of the purchase price two months after the date of sale. Option two is to deduct X% off the purchase price and pay cash on the date of sale. A customer wishes to determine X such that he is indifferent between the two options when valuing them using an effective annual interest rate of 8%. Write down an equation of value involving X