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Question - A treasury bill, redeemable at $100, was purchased for $96.50 at the time of issue and later sold to another investor for $98 who held it to maturity. The rate of return received by the initial purchaser was 4% per annum effective.
I. Calculate the length of time in days for which the initial purchaser held the bill?
II. Calculate the annual effective rate of return achieved by the second investor.
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ACC 2312 Managerial Accounting Assignment Help and Solution - University of the Incarnate Word, USA - Homework Help
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