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Betty purchased a 364-day $50,000 T-bill on issue date for $48,873.86. After holding it for 215 days, she sold it to a buyer to
Betty purchased a 364-day $50,000 T-bill on issue date for $48,873.86. After holding it for 215 days, she sold it to a buyer to yield 1.57%. a) What was the original yield of the bill? b) For what price did Betty sell the Bill? c) What annual rate of return did Betty realize while holding the bill?
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Lets break this down step by step a To find the original yield of the Tbill we can use the formula f...
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Contemporary Business Mathematics with Canadian Applications
Authors: S. A. Hummelbrunner, Kelly Halliday, K. Suzanne Coombs
10th edition
133052311, 978-0133052312
