The Purchaser of a 168-Day T-Bill with a Face Value

question 52

Short Answer

The purchaser of a 168-day T-bill with a face value of $100,000 paid $98,929.92 for it. She then sold the T-bill to a client at a rate of interest of 2% simple interest. What profit did she realize on the sale?

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Definitions:

Marketing Message

A key piece of communication from a company to its target audience, designed to convey the value proposition and benefits of its products or services.

IMC Budget

The financial plan allocated for Integrated Marketing Communications, outlining expenses for advertising, promotions, public relations, and more.

Advertising Media

Various channels through which advertising messages are delivered to the intended audience, including television, radio, newspapers, the internet, and billboards.

Public Relations

The professional maintenance of a favorable public image by a company or other organization or a famous person.