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A Treasury bill with face value of $109,000 and maturity of 3 months sells for $105,000. a. What would be the rate quoted on this

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A Treasury bill with face value of $109,000 and maturity of 3 months sells for $105,000. a. What would be the rate quoted on this bill on a discount basis? Note: Do not round intermediate calculations. Round your answer to 2 decimal place. b. What would be its effective annual interest rate? Note: Round your answer to 2 decimal place

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