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you just purchased a 91-day money market security. The security par value is $985,000. It is quoted at a discount rate of 4.25% on a
you just purchased a 91-day money market security. The security par value is $985,000. It is quoted at a discount rate of 4.25% on a 360-day year basis. What price did you pay for this security? Pick the closest answer.
A. $944,844 | ||
B. $924,355 | ||
C. None of the choices | ||
D. $937,826 | ||
E. $974,418 |
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