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Assume the $ 1 2 , 0 0 0 Treasury bill, 6 % for 1 3 weeks. Calculate the effective rate of interest. Note: Use

Assume the $

12, 000

Treasury bill,

6 %

for

13

weeks. Calculate the effective rate of interest.

Note: Use calendar year. Round your answer to the nearest hundredth percent.

Effective rate of interest

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