(answered) – 1) Kaitlyn bought a 91-day T-bill that has an interest rate ofDescriptionSolution downloadThe Question1) Kaitlyn bought a 91-day T-bill that has an interest rate of 4.60% p.a. and a face value of $10,000.a. How much did Kaitlyn pay for the T-bill?b. After 38 days, Kaitlyn sold the T-bill to her friend when the interest rate for this T-bill in the market increased to 5.60% p.a. What was her selling price?2)On Sept.26, 2010, Brian received $7,000 from his father. He settled this amount on March. 6 2011 with interest of $144.50.a. What was the time period of the loan expressed in days?b. What was the annual rate of simple interest charged for this loan?3)Charles invested a certain amount of money at 4% p.a. and another $6,600.00 at 4.5% p.a. After 17 months, the total amount of interest earned from both investments was $953.42.?a. What was the amount of interest earned from the investment at 4% p.a.?b. What was the amount invested at 4% p.a.?4)?Joshua purchased a 91-day T-bill with a face value of $20,000 discounted at 2.75% p.a. and sold it to Brandon 60 days before maturity at a discount rate of 3.25% p.a.?a. How much did Joshua pay for the T-bill?b. How much did Brandon pay for the T-bill?c. What rate did Joshua earn on the T-bill?
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