# T-bills, maturity, interest earned

*label*Mathematics

*timer*Asked: May 3rd, 2015

**Question description**

A 15,000 t-bill is purchased at a 3.85% discount rate for 16weeks.

1.find purchase price of the T-bill 3.the interest earned

2.the maturity value 4. the effective rate of interest to the nearest hondredth of a percent.