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You purchase a three-month discount security (e.g., a Treasury bill or commercial paper)for $0.9878 on $1 (i.e., $98,780 for $100,000 face amount). What are the discount yield, the simple annual yield, and the annual compound yield earned by the investment? Assume a 360-day year.
Garnishee Order
A legal order issued by a court that requires a third party to withhold the assets of a debtor, typically used to secure payment of a debt or judgment.
Writ of Execution
A court order that enables the enforcement of judgments, typically by seizing and selling the debtor's property.
Privative Clause
Terms in a statute that attempt to restrict the right of judicial review
Administrative Tribunal
is a government body that makes judicial decisions on administrative matters, often related to public services or benefits.
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