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An investor buys a treasury bill maturing in 1 month for

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An investor buys a Treasury bill maturing in 1 month for $987. On the maturity date the investor collects $1,000. Calculate effective annual rate (EAR).

A. 17.0%

B. 15.8%

C. 13.0%

D. 11.6%

Reference no: EM13568747

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