A $25,000 United States Treasury bill, purchased at 1.66% interest, matures in 98 days. The purchaser is charged a service fee of $20. What is the cost of the Treasury bill? (Round your answer to the nearest cent.)

Intermediate Algebra
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ISBN:9780998625720
Author:Lynn Marecek
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Chapter2: Solving Linear Equations
Section2.2: Use A Problem Solving Strategy
Problem 2.53TI: Eduardo noticed that his new car loan papers stated that with a 7.5% simple interest rate, he would...
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A $25,000 United States Treasury bill, purchased at 1.66% interest, matures in 98 days. The purchaser is charged a service fee of $20. What is the cost of the Treasury bill? (Round your answer to the nearest cent.) 

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