Question
3. Bidder Bid Amount (million) Price 1 $1,000 $0.9911 2 $500 $0.9933 3 $15 $0.9976 4 $1,000 $0.9971 5 $30 $0.9970 The table above shows
3.
| Bidder | Bid Amount (million) | Price |
| 1 | $1,000 | $0.9911 |
| 2 | $500 | $0.9933 |
| 3 | $15 | $0.9976 |
| 4 | $1,000 | $0.9971 |
| 5 | $30 | $0.9970 |
The table above shows the bids submitted in a Treasury auction of $3,000 million par value 92-day T-bills. The Treasury also received $1,800 million in non-competitive bids. List out the amount receive for each bidder from Bidder 1 to Bidder 5. (14 marks)
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Financial Management Principles And Applications
Authors: Sheridan Titman
9th Edition
0655705457, 9780655705451
