SOLUTION: You have just won $15,000 in the lottery, and have been given two investment choices: buy a 1-yr T-bill for $14, 250—or to put the $15,000 in a 12-month CD paying 6%. Which invest

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Question 1021771: You have just won $15,000 in the lottery, and have been given two investment choices: buy a 1-yr T-bill for $14, 250—or to put the $15,000 in a 12-month CD paying 6%. Which investment will provide a higher return?
please show work so I will understand
Answer by dbai2061(1) About Me  (Show Source):
You can put this solution on YOUR website!
buy a 1-yr T-bill for $14, 250
15000-14,250/14,250 =0.0526
5.26%

$15,000 in a 12-month CD paying 6%.
15000 * .06 * 30/365
=$73.98