Question
A 178-day T-bill with $1000 face value has dealer's quote as follows: Maturity Days to maturity Bid (%) Asked (%) Price Ask yield 3/5/2021 178
A 178-day T-bill with $1000 face value has dealer's quote as follows:
| Maturity | Days to maturity | Bid (%) | Asked (%) | Price | Ask yield |
| 3/5/2021 | 178 | 1.823 | 1.813 |
What is the price you need to pay to buy the T-bill? Excel file attached
Select one:
a. $923.52
b. $990.97
c. $991.04
d. $1000
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Finance Introduction To Institutions Investments And Management
Authors: Ronald W. Melicher, Edgar A. Norton
11th Edition
0470004460, 978-0470004463
