If a $10,000 par T-Bill has a 3.75% discount quote and a 90-day maturity, what is the price of the T-Bill to the nearest dollar?
A) $9,625
B) $9,906
C) $9,908
D) $9,627
E) None of the above 10,000 * [1-(0.0375 * 90/360) ] = 9,906
Correct Answer:
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