How much will a U.S. Treasury bill (T-bill) be worth after 6 months if it was bought for $4,000 and earns 3.7% simple interest?

Trigonometry (MindTap Course List)
10th Edition
ISBN:9781337278461
Author:Ron Larson
Publisher:Ron Larson
ChapterP: Prerequisites
SectionP.3: The Cartesian Plane And Graphs Of Equations
Problem 7ECP
icon
Related questions
Question

How much will a U.S. Treasury bill (T-bill) be worth after 6 months if it was bought for $4,000 and earns 3.7% simple interest?  Round your answer to two decimal places if rounding is necessary.  There is a $ sign next to the answer box, so do not type a $ in your answer.

Expert Solution
steps

Step by step

Solved in 2 steps

Blurred answer
Recommended textbooks for you
Trigonometry (MindTap Course List)
Trigonometry (MindTap Course List)
Trigonometry
ISBN:
9781337278461
Author:
Ron Larson
Publisher:
Cengage Learning