A Government of Canada T-bill with a face value of $1,000 and 45 days to maturity is trading for $985.22.The 45-day interest rate is ______ and the annual rate is ______.
A) 1.5%, 12.17%
B) 12.17%, 1.5%
C) 1.5%, 12.84%
D) 12.84%, 1.5%
Correct Answer:
Verified
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