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Today is 2 0 2 1 - 1 1 - 1 7 . Dayo buys a T - bill with a face value of $

Today is 2021-11-17. Dayo buys a T-bill with a face value of $15,000 that matures on 2022-02-11. The annual simple
interest rate is 2.300% and the daycount convention is ACT /365.
a) How much does the T-bill cost?
b) The interest rate changes, so on 2021-12-17, Dayo sells the T-bill to Man-Duen for $14,965.56. What is the new
annual simple interest rate ?
c) The interest rate doesn't change again, and Man-Duen wants to sell the T-bill on the first day they can get more
than $14,982.78 for it. What day does Man-Duen sell the T-bill, and what price does he receive?
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