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A Treasury bill with face value of $110,500 and maturity of 6 months sells for $106,000. a. What would be the rate quoted on

A Treasury bill with face value of $110,500 and maturity of 6 months sells for $106,000. a. What would be the

A Treasury bill with face value of $110,500 and maturity of 6 months sells for $106,000. 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. a. Quoted rate b. Effective annual rate % %

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