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OpenStudy (anonymous):
Megan bought a 91-day T-bill that has an interest rate of 3.70% p.a. and a face value of $5,000. a. How much did she pay for the T-bill? b. After 30 days, she sold the T-bill to her friend when the interest rate for this T-bill in the market increased to 5.60% p.a. What was her selling price?
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