Government of Alberta 364-day T-bills with a face value of $1000000 were purchased on April 7 for

Question:

Government of Alberta 364-day T-bills with a of $1000000 were purchased on April 7 for $971 578. The T-bills were sold on May 16 for $983 500.
(a) What was the market yield rate on April 7?
(b) What was the yield rate on May 16?
(c) What was the rate of return realized?
Face Value
Face value is a financial term used to describe the nominal or dollar value of a security, as stated by its issuer. For stocks, the face value is the original cost of the stock, as listed on the certificate. For bonds, it is the amount paid to the...