Solve the Problem

question 19

Multiple Choice

Solve the problem. Round dollar amounts to the nearest cent. Use 360 days.
-What is the purchase price of a 26-week T-bill with a maturity value of $1000 that earns an annual interest rate of 5.25%?

• A) $1000
• B) $25.58
• C) $974.42
• D) $1025.58

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Definitions:

Diffusion

The passive movement of molecules or particles from an area of higher concentration to an area of lower concentration, until equilibrium is reached.

Allergic Reaction

An immune response to a substance, known as an allergen, that is typically harmless to most people.

Osmosis

The movement of water molecules through a semipermeable membrane from a region of lower solute concentration to one of higher concentration.

Charged Molecules

Molecules that have an electric charge due to the loss or gain of one or more electrons.