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A 90-day T-Bill has a discount yield of 1.25%. - What is the price of a $1,000,000 face value bill? - Using the same yield

A 90-day T-Bill has a discount yield of 1.25%.

- What is the price of a $1,000,000 face value bill?

- Using the same yield shown above, what would be the T-bill futures price as quoted by the exchange?

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