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An investor purchases a 5 0 - day T - bill with a maturity value of $ 1 0 , 0 0 0 that earns

An investor purchases a

50 -

day T

-

bill with a maturity value of $

10, 000

that earns a simple annual interest rate of

5.53 % .

)

What is the purchase price if a

360 -

day year is used?

)

What is the purchase price if a

365 -

day year is used?

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