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const2013 [10]
3 years ago
9

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

Business
2 answers:
Nat2105 [25]3 years ago
3 0
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
d1i1m1o1n [39]3 years ago
3 0

Answer:

Exp5000000lanation:

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