Question

What is the effective interest rate of an 8% 13-week Treasury bill? Assume it is a $10,000 Treasury bill, and round your answer to the nearest hundredth percent.


A. 8.20%
B. 9.00%
C. 8.17%
D. 8.16%

Answer: D??
Yes D!
Can you show the steps to figure this out?

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