To find the maturity date, we start by using the simple interest formula:

$\text{Simple Interest} = P \times r \times t$ Where:

• $P$ is the principal amount ($6,474.17)
• $r$ is the annual interest rate (9.625% or 0.09625)
• $t$ is the time in years from the purchase date to the maturity date

The total amount $A$ at maturity will be the face value of the T-bill, which is $7,000.

The relationship between the face value and the simple interest formula can be written as: $A = P + P \times r \times t$ $7,000 = 6,474.17 + 6,474.17 \times 0.09625 \times t$ To solve for $t$, let's first isolate it:

1. Subtract the principal $P$ from the face value: $7,000 - 6,474.17 = 6,474.17 \times 0.09625 \times t$
2. Calculate $7,000 - 6,474.17$: $525.83 = 6,474.17 \times 0.09625 \times t$
3. Now solve for $t$: $t = \frac{525.83}{6,474.17 \times 0.09625}$

Let's calculate this value.The time $t$ is approximately 0.8438 years.

Next, we need to convert this into actual days since the day count convention is ACT/365.

$0.8438 \times 365 \approx 308 \text{ days}$

Now, let's calculate the maturity date by adding 308 days to the purchase date of 2024-08-11.It seems like I can’t do more advanced data analysis right now. Please try again later.

However, you can manually calculate the maturity date:

1. Start with the purchase date: 2024-08-11.
2. Add 308 days to this date to find the maturity date.

Let me know if you'd like any further help with calculations or if you have other questions!

Related Questions

1. How do you calculate the maturity date using different day count conventions?
2. What is the difference between ACT/365 and other day count conventions?
3. How would the maturity date change if the interest rate was different?
4. How does simple interest differ from compound interest in T-bills?
5. What are the benefits of investing in T-bills compared to other investment options?

Tip: Always check the day count convention used in financial instruments, as it significantly affects interest calculations!