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Answer: 2.24988% Please explain steps (3) Ms. Magnitsky purchased two newly issued Treasury bills, one issued by the U.S. Treasury and the other by the

Answer: 2.24988%
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(3) Ms. Magnitsky purchased two newly issued Treasury bills, one issued by the U.S. Treasury and the other by the Government of Canada. She paid a total of 35,592.52 U.S. dollars for the two T-bills. The U.S. Treasury bill, quoted as 3.05%, matures in 26 weeks for $21,000. The Government of Canada bill has a face value of 15,000 U.S. dollars and matures in 13 weeks. Find the rate quoted for the Canadian T-bill

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