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What annual simple interest rate will you earn

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Question - A treasury bill has a face value of $10,000 and is sold at a price of $9,860. On top of this the bank that handles your transaction charges a fee of $25. The bond matures in 9 months. If you buy this bond, what annual simple interest rate will you earn? Show the formulas you use and your calculations and give an answer as a percent, rounded to two decimal places.

Reference no: EM133061474

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