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Question
The Federal Reserve is offering Treasury bills with a par value of $25 billion for sale. They have received $7 billion of noncompetitive bids. The competitive bids for a $10,000 par value bond are: (Qty in billions)
What price will Bidder A pay per bond, assuming that bid is accepted?
A. $9,600
B. $9,650
C. $9,675
D. $9,700
E. $9,750
Answer
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