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Tom invests $500 at an effective annual discount rate of 6%. The inflation is 3% every year. Calculate the purchasing power (measured in dollars) in
Tom invests $500 at an effective annual discount rate of 6%. The inflation is 3% every year. Calculate the purchasing power (measured in dollars) in 10 years. Question 4 Tom is interested in buying a U.S. Treasury Bill matured in 180 days with a quoted discount of 1.2%. If the face value of the bill is $100, calculate the price of the bill assuming a 360-day year
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