document.write( "Question 1186450: What is the annual interest rate earned by a 33-day T- bill with a maturity value of P 1,000 that sells for P 996.16? (Use 360 days for a year) \n" ); document.write( "

Algebra.Com's Answer #817550 by MathTherapy(10555) $\"\"$ $\"About$

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\n" ); document.write( "What is the annual interest rate earned by a 33-day T- bill with a maturity value of P 1,000 that sells for P 996.16? (Use 360 days for a year)
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Apply the FUTURE VALUE formula, based on SIMPLE IMTEREST, which is: , with 
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document.write( " then becomes: 
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document.write( "                                 11R(31.13) = .12(120) ------- Cross-multiplying
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document.write( "Annual Interest rate or  \n" );
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