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For the following treasury bill bought in 2007, find (a) the price of the T-bill, and (b) the actual interest rate paid by the Treasury.

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For the following treasury bill bought in 2007, find (a) the price of the T-bill, and (b) the actual interest rate paid by the Treasury. Nine-month $15,500 T-bill with discount rate of 5.96% (a) The price of the T-bill is $1 (Round to the nearest dollar as needed.)

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