A company is in need or revenue for a period of 26 weeks. They elect to sell 10,000 T-Bills that will mature to $1000 after the 26 weeks. If the company wants to pay a simple interest rate of 5.2% on the T-Bills, then what price should they charge for each T-Bill and how much revenue (to nearest dollar) will the sale generate?
- Price= $974.66, Revenue = $9,746,600
- Price= $425.17, Revenue = $4,251,700
- Price= $1026, Revenue = $10,260,000
- Price= $2352 Revenue = $23,520,000
- Price= $898.74, Revenue = $8,987,400