# Math with business Applications

*label*Mathematics

*timer*Asked: Apr 24th, 2015

**Question description**

A large Japanese investment firm purchases $24,000,000 in U.S. T-bills at a 6% discount for 13 weeks. Find the purchase price of the T-bills, the maturity value of the T-bills, the interest earned, and the effective rate. Assume 52 weeks per year for the following exercise.