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Nolan buys a $ 1 2 , 0 0 0 , 1 3 - week Treasury bill at 5 % . What's his effective rate,

Nolan buys a $

12, 000, 13 -

week Treasury bill at

5 % .

What's his effective rate, rounded to the nearest hundredth of a percent? A

. 5.60 %

. 5.06 %

. 506 %

. 50.6 %

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