Question
Brittany purchased a 182-day T-bill with interest rate of 3.75% p.a. and a face value of $10,000. a. How much did Brittany pay for the
Brittany purchased a 182-day T-bill with interest rate of 3.75% p.a. and a face value of $10,000.
a. How much did Brittany pay for the T-bill?
Round to the nearest cent
b. After 36 days, Brittany sold the T-bill when the interest rate for this T-bill in the market increased to 4.00% p.a. What was the selling price?
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Finance For Non Financial Managers
Authors: Pierre Bergeron
6th Edition
0176501630, 9780176501631
