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Posted on Jul 10, 2024

On 1 0 . 0 9 . 2 0 1 7 , an investor buys a 9 1 day certificate of deposit with a face

10.09.2017,

an investor buys a

91

day certificate of deposit with

a face value of

1000,

an interest rate of

5 %, 31

days to maturity and

a yield of

5.5 % .

What is the clean price paid by the investor for this

security?

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