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Assume the $12,000 Treasury bill, 3% for 13 weeks. Calculate the effective rate of interest

Assume the $12,000 Treasury bill, 3% for 13 weeks. Calculate the effective rate of interest
asked 128k views
4 votes
Assume the $12,000 Treasury bill, 3% for 13 weeks. Calculate the effective rate of interest

asked
User Octern
by
8.4k points

1 Answer

3 votes
equation is f(x)=12,000(1.03)^13
the answer would be $17,622
if you were to plug into a scientific calculator
answered
User Drakarah
by
8.7k points
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