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  3. darren purchased 250 000 in 364 day t bills 315 da

Darren purchased 250 000 in 364 day T bills 315 days before maturity to yield...

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Algebra

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Darren purchased 250 000 in 364 day T bills 315 days before maturity to yield 2 86 After holding it for 120 days Darren sold the T bill for a yield of 3 25 a How much did Darren pay for the T bills b For how much did Darren sell the T bills c What rate of return per annum did Darren realize on the investment

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