A $50,000, 82-day Province of Ontario T-bill was issued 34 days ago. What will the T-bill sell at today, in order to yield the purchaser a simple interest rate of 2.25% p.a.?

To calculate the selling price of the T-bill today, we need to determine the amount of simple interest earned and add it to the principal amount. The formula to calculate simple interest is: Interest = Principal × Rate × Time Given: Principal = $50,000 Rate = 2.25% p.a. (expressed as a decimal, 0.0225) Time = 82 days - 34 days = 48 days (as the T-bill was issued 34 days ago) Now, we can calculate the interest earned: Interest = $50,000 × 0.0225 × (48/365) Calculating the interest: Interest ≈ $147.95 To find the selling price, we add the interest earned to the principal amount: Selling Price = Principal + Interest Selling Price = $50,000 + $147.95 Calculating the selling price: Selling Price ≈ $50,147.95 Therefore, the T-bill will sell at approximately $50,147.95 today in order to yield the purchaser a simple interest rate of 2.25% p.a.