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The discount yield of a 3-month T-bill with a face value of $1,000 is 5%. What is its price? Question 1 options: $987.36 $989.52 $992.73

The discount yield of a 3-month T-bill with a face value of $1,000 is 5%. What is its price?

Question 1 options:

$987.36

$989.52

$992.73

$995.81

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