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demonstrate how to solve the following problem with steps using the formula. please DONT use excel Example 1: Price of a T-bill with face value

demonstrate how to solve the following problem with steps using the formula. please DONT use excel image text in transcribed

Example 1: Price of a T-bill with face value of $10,000 and 28 days to maturity is 9980 . What is the discount rate of this bill? - First compute the discount rate over the 28-day period - Then annualize this rate

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