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April 18, 2014

Homework Help: Simple Interest Applications

Posted by Steph on Wednesday, October 24, 2012 at 11:48am.

An investor purchased a 91-day, $100,000 T-bill on its issue date for $99,326.85. After holding it for 42 days, she sold the T-bill for a yield of 2.72%.

a)What was the original yield of the T-bill?

b)For what price was the T-bill sold?

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