The Federal Reserve is offering Treasury bills with a par value of $25 billion for sale. They have received $7 billion o

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The Federal Reserve is offering Treasury bills with a par value of $25 billion for sale. They have received $7 billion o

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The Federal Reserve is offering Treasury bills with a par valueof $25 billion for sale. They have received $7 billion ofnoncompetitive bids. The competitive bids for a $10,000 par valuebond are:
What price will Bidder A pay per bond, assuming that bid isaccepted?
Multiple Choice
$9,700
$9,675
$9,600
$9,750
$9,650
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