Question
Barbara bought a 91-day T-bill that has an interest rate of 4.30% p.a. and a face value of $5,000. How much did she pay for
Barbara bought a 91-day T-bill that has an interest rate of 4.30% p.a. and a face value of $5,000.
- How much did she pay for the T-Bill?
- After 40 days, Barbara sold the T-bill to her friend when the interest rate for this T-bill in the market increased to 5.30% p.a.
- What was her selling price?
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Engineering Economy
Authors: William G. Sullivan, Elin M. Wicks, C. Patrick Koelling
15th edition
132554909, 978-0132554909
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