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A 90-day Province of New Brunswick T-bill with a $250,000 face value was issued on July 1. Buhler Industries temporarily had some extra cash available,
A 90-day Province of New Brunswick T-bill with a $250,000 face value was issued on July 1. Buhler Industries temporarily had some extra cash available, so the company purchased the T-bill 20 days after it was issued, when the yield was 6.5%, and sold the T-bill 55 days before its maturity date, when the yield was 6.27%. How much money did Buhler Industries earn, and what was the rate of return realized? Round your answers to two decimal places.
Interest earned = $
Yield = %
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