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30 November, 08:42

These securities are short-term government securities with maturities ranging from a few days to 52 weeks. They are sold at a discount from their face value (or "par"). The difference between the original purchase price and what the Treasury pays you at maturity is the interest, which is called a "discount yield."

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  1. 30 November, 11:11
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    They are called T-Bills.
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