Because simple interest is used on short-term notes, the time period is often given in days rather than months or years. We convert this to years by dividing by 360, assuming a 360 day year called a banker's year. Flag question: Question 1 Question 1 9.09 pts Use a banker's year described above to answer this question. T-bills (Treasury bills) are one of the instruments the U.S. Treasury Department uses to finance public debt. If you buy a 340-day T-bill with a maturity value of $10,750 for $10,330.55, what annual simple interest rate will you earn