How much profit is the bank going to make
Problem
Miss Monica Fuentes bought a $9,000 1.5% 48 week T-BiII on May 8 and sold it to the Bank 26 weeks later at a discount rate of 1%. How much profit is the Bank going to make when the 48 weeks are up?
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Miss Monica Fuentes bought a $9,000 1.5% 48 week T-BiII on May 8 and sold it to the Bank. How much profit is the Bank going to make when the 48 weeks are up?
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Miss Monica Fuentes bought a $9,000 1.5% 48 week T-Bill on May 8. Find the proceeds to Monica (how much did Monica receive from the Bank).
Miss Monica Fuentes bought a $9,000 1.5% 48 week T-BiII on May 8 and sold it to the Bank 26 weeks later. Find the discount at the time of the sale to the Bank.
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