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What would be the purchase price for a $5,000, 91-day T-bill paying 3% interest?

Ralph Lopez

in Business

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Jessie Thompson on March 7, 2018

So, you only have to find using this formula :5000 x [100 % - (3% x 91/365)]= 5,000 x [ 100 % - 0.007479]= 5,000 x 99.992521= $ 4,962.50 >>> roundedHope this helps


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