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What is the price of a $50,000, 182-day T-bill on its issue date if on this date the market rate of interest was 6.875% p.a.
What is the price of a $50,000, 182-day T-bill on its issue date if on this date the market rate of interest was 6.875% p.a. simple interest?
a. $48,342.77 b. $48,262.15 c. $48,285.96 d. $48,148.14
show your work plz
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