A bank purchases a new 52-week $1,000,000 face value Treasury bill for $950,000. What is the discount rate on this T-bill (Hint: A 52-week T-bill has an original maturity of 364 days)
A) 4.95%
B) 5.00%
C) 5.06%
D) 5.19%
E) 5.26%
Correct Answer:
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