y2amyg1dcountaish
y2amyg1dcountaish y2amyg1dcountaish
  • 14-09-2016
  • Business
contestada

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

Respuesta :

andriansp andriansp
  • 20-09-2016
well, you just need to find it using this formula :

5,000 x [100 % -  (3% x 91/365)]

= 5,000 x [ 100 % - 0.007479]

= 5,000 x 99.992521

= $ 4,962.50 >>> rounded

Hope this help
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melissacooney74 melissacooney74
  • 26-10-2019

Answer:

Exp5000000lanation:

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