Sam Slater buys a $10,000, 13-week Treasury bill at 51%. What is the effective rate? (Round your answer to the nearest hundredth percent.) Effective rate %

Mathematics For Machine Technology
8th Edition
ISBN:9781337798310
Author:Peterson, John.
Publisher:Peterson, John.
Chapter24: Percent Practical Applications
Section: Chapter Questions
Problem 32A: A manufacturer estimates that 15,500 pieces per day could be produced with the installation of new...
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Sam Slater buys a $10,000, 13-week Treasury bill at 51%. What is the effective rate? (Round your answer to the nearest
hundredth percent.)
Effective rate
%
Transcribed Image Text:Sam Slater buys a $10,000, 13-week Treasury bill at 51%. What is the effective rate? (Round your answer to the nearest hundredth percent.) Effective rate %
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