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The 3 - Months Treasury bill rate stands at 5 % and is reported as EAR ( Not APR! ) . The bill matures and

The 3-Months Treasury bill rate stands at 5% and is reported as EAR (Not APR!). The bill
matures and interest is paid in 3 months. How much interest is received after 3 months? Using
the EAR calculate the daily rate for the bill (assume daily compounding and 365 days/year).

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