Compute the specified quantity. At auction, 6-month T-bills were sold at a discount of 7.425%. What was the simple annual yield r? HINT [See Example 6.] (Round your answer to three decimal places.) r = 7.659 X % Need Help? Read It Watch It

Holt Mcdougal Larson Pre-algebra: Student Edition 2012
1st Edition
ISBN:9780547587776
Author:HOLT MCDOUGAL
Publisher:HOLT MCDOUGAL
Chapter7: Percents
Section7.7: Simple And Compound Interest
Problem 15E
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Compute the specified quantity.
At auction, 6-month T-bills were sold at a discount of 7.425%. What was the simple annual yield r? HINT [See Example 6.] (Round your answer to three decimal places.)
r = 7.659
X %
Need Help?
Watch It
Read It
Transcribed Image Text:Compute the specified quantity. At auction, 6-month T-bills were sold at a discount of 7.425%. What was the simple annual yield r? HINT [See Example 6.] (Round your answer to three decimal places.) r = 7.659 X % Need Help? Watch It Read It
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