When the U.S government borrows money on a short-term basis (a years or less), it does so by selling what are called Treasure bills, or T-bills for short. A T-bill is a promised by the government to repay a fixed amount at some time in the future for example, 3 months or 12 months. Treasury bills are pure discount loans, If a T-bill promises to repay $10,000 in 12 months and the market interest rat0 is 7 percent. How much will the bill sell for in the market?