Liz acquired a 7,000.00, 91-day, Province of Alberta T-bill on its date of issue for a price of6

Name: Liz acquired a 7,000.00, 91-day, Province of Alberta T-bill on its date of issue for a price of6,922.34. What was the annual simple interest rate of the T-bill?
Uploaded: 2023-07-14T02:10:16-08:00
Duration: 1 min 53 s
Channel: Adi S
Description: Liz acquired a 7,000.00, 91-day, Province of Alberta T-bill on its date of issue for a price of6,922.34. What was the annual simple interest rate of the T-bill?

Question

Shu-Ting Huang · Accepted Answer

First, we need to calculate the discount or the difference between the face value of the T-bill

Question

Liz acquired a $7,000.00, 91-day, Province of Alberta T-bill on its date of issue for a price of $6,922.34. What was the annual simple interest rate of the T-bill?

Please give Ace some feedback