Answer:
2.39%
Step-by-step explanation:
Maxwell bought $15,000 worth of 52-week T-bills for $14,650
Therefore the rate of return on investment can be calculated as follows
= 15,000-14,650/14,650× 100
= 350/14,650 × 100
= 0.02389 × 100
= 2.39%
Hence the rate of return on this investment is 2.39%
