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Solve the problem, 1) Jeff Rakhnovich buys a $500,000 T-bill at a 2.5% discount for 36 weeks. Find the effective interest rate or APR. (Assume

Solve the problem, 1) Jeff Rakhnovich buys a $500,000 T-bill at a 2.5% discount for 36 weeks. Find the effective interest rate or APR. (Assume 52 weeks per year.) Carry percents to 2 decimal places. 6 points

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