What annual interest rate is earned by a 12-week T-bill with a maturity value of $1,900 that sells for $1,877.99? The annual interest rate is %. (Type an integer or decimal rounded to three decimal places as needed.)
What annual interest rate is earned by a 12-week T-bill with a maturity value of $1,900 that sells for $1,877.99? The annual interest rate is %. (Type an integer or decimal rounded to three decimal places as needed.)
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
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Question
![What annual interest rate is earned by a 12-week
T-bill with a maturity value of $1,900 that sells for
$1,877.99?
The annual interest rate is %.
(Type an integer or decimal rounded to three
decimal places as needed.)](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F99741248-649d-4044-abe6-3a2575d5d1e0%2F1b374d1b-19f6-4da5-b621-1bf30956f06d%2Fflzik5_processed.png&w=3840&q=75)
Transcribed Image Text:What annual interest rate is earned by a 12-week
T-bill with a maturity value of $1,900 that sells for
$1,877.99?
The annual interest rate is %.
(Type an integer or decimal rounded to three
decimal places as needed.)
![A loan of $1,010 was repaid at the end of 12 months
with a check for $1,025. What annual rate of interest
was charged?
The annual rate of interest was charged at %.
(Round to two decimal places as needed.)](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F99741248-649d-4044-abe6-3a2575d5d1e0%2F1b374d1b-19f6-4da5-b621-1bf30956f06d%2F81nmm7k_processed.png&w=3840&q=75)
Transcribed Image Text:A loan of $1,010 was repaid at the end of 12 months
with a check for $1,025. What annual rate of interest
was charged?
The annual rate of interest was charged at %.
(Round to two decimal places as needed.)
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