Question
Jordan bought a 14 week t-bill for $4953.99 which has a maturity value of $5000.00. For what follows, assume simple interest with a 365 day
Jordan bought a 14 week t-bill for $4953.99 which has a maturity value of $5000.00. For what follows, assume simple interest with a 365 day year.
a) What annual simple interest rate would Jordan earn?
b) Suppose Jordan sells the t-bill 40 days later to another investor who wishes to yield 3.10%. What price did the t-bill sell for?
c) What rate of return did Jordan earn on his investment?
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Supply Chain Risk Management Applying Secure Acquisition Principles To Ensure A Trusted Technology Product Internal Audit And IT Audit
Authors: Ken Sigler, Dan Shoemaker, Anne Kohnke
1st Edition
1138197335, 978-1138197336
