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Ali purchased a 91-day T-Bill that has a face value of $1000 and an interest rate...

Ali purchased a 91-day T-Bill that has a face value of $1000 and an interest rate of 4.50% p.a. a. Calculate the purchase price of the T-Bill. Round to the nearest cent

b. In 31 days, he needed the money and therefore, sold the T-bill to another investor. The rate for this investment in the market was 6.50% at the time of the sale. Calculate his selling price.

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