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A Treasury bill with face value of $112,000 and maturity of 4 months sells for $107,000. a. What would be the rate quoted on this

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A Treasury bill with face value of $112,000 and maturity of 4 months sells for $107,000. a. What would be the rate quoted on this bill on a discount basis? (Do not round intermediate calculations. Round your answer to 2 decimal place.) Quoted rate % b. What would be its effective annual interest rate? (Round your answer to 2 decimal place.) Effective annual rate %

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