1. **State the problem:** We need to find the purchase price of a 50-day T-bill with a maturity value of 2047 and an annual interest rate of 4.192%, assuming a 360-day year. 2. **Formula used:** The purchase price $P$ of a T-bill is given by the formula: $$P = M \times \left(1 - r \times \frac{t}{360}\right)$$ where: - $M$ is the maturity value, - $r$ is the annual interest rate (in decimal), - $t$ is the number of days until maturity. 3. **Convert the interest rate to decimal:** $$r = \frac{4.192}{100} = 0.04192$$ 4. **Substitute the values into the formula:** $$P = 2047 \times \left(1 - 0.04192 \times \frac{50}{360}\right)$$ 5. **Calculate the fraction:** $$0.04192 \times \frac{50}{360} = 0.04192 \times 0.1388889 = 0.005823$$ 6. **Calculate the purchase price:** $$P = 2047 \times (1 - 0.005823) = 2047 \times 0.994177 = 2034.17$$ 7. **Final answer:** The purchase price of the T-bill is **2034.17** (rounded to two decimal places).