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Calculate the effective annual interest rate for the following: a. A 3-month T-bill selling at $97,000 with par value $100,000. (Round your answer to 2

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Calculate the effective annual interest rate for the following: a. A 3-month T-bill selling at $97,000 with par value $100,000. (Round your answer to 2 decimal places.) b. A 15% coupon bond selling at par and paying coupons semiannually. (Round your answer to 2 decimal places.)

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