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OpenStudy (anonymous):
What would be the purchase price for a $5,000, 91-day T-bill paying 3% interest?
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OpenStudy (anonymous):
Help!
OpenStudy (anonymous):
is there multiple choice?
OpenStudy (anonymous):
yes. A) $4925 B) $4962.50 C) $5000 D) 5037.50
OpenStudy (anonymous):
b.
OpenStudy (anonymous):
that's what I got, but can't remember how I got that. Can you explain it to me?
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OpenStudy (anonymous):
this is what i did. 100% - 3% = 97% * $5,000 = $4,850 but it doesnt match any multiple choice. from that point i guessed
OpenStudy (anonymous):
ok. thanks
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