A 3-month $28,000 treasury bill with a simple annual discount rate of 0.27% was sold in 2016. Assume 365 days in a year (a) Find the price of the treasury bill (T-bill). (b) Find the actual interest rate paid by the Treasury (a) The price of the T-bill was s (Round to the nearest cent as needed)

A 3-month $28,000 treasury bill with a simple annual discount rate of 0.27% was sold in 2016. Assume 365 days in a year (a) Find the price of the treasury bill (T-bill). (b) Find the actual interest rate paid by the Treasury (a) The price of the T-bill was s (Round to the nearest cent as needed)

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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A 3-month $28,000 treasury bill with a simple annual discount rate of 0.27% was sold in 2016. Assume 365 days in a year
(a) Find the price of the treasury bill (T-bill).
(b) Find the actual interest rate paid by the Treasury
(a) The price of the T-bill was $
(Round to the nearest cent as needed)
ANE

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