Solved: Problem on purchasing a treasury bill, Finance Basics

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Problem on purchasing a treasury bill

Problem:

We are purchasing a 28-day Treasury bill, during a normal year (non-leap year), and want to find out both the discount rate and the investment rate. If we purchase the bill for $998, what are the two rates? If we purchase a 91 day Treasury bill for $995, what are the two rates? (Show all work/calculations/formulas.)

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Finance Basics: Problem on purchasing a treasury bill

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Finance Basics: Problem on purchasing a treasury bill

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