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Muhammad owns a T - bill with a face value of $ 3 9 , 0 0 0 maturing on 2 0 1 6 -

Muhammad owns a T-bill with a face value of $39,000 maturing on 2016-12-04. He wants to sell it on the first day the price exceeds $37,869.58. The simple interest rate is 7.875% and the daycount convention is ACT/365. On what day does he sell the T-bill?

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