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A 91-day Treasury bill with a face value of $1 million is sold to yield 5.27 percent. a. At what price did the T-bill sell
A 91-day Treasury bill with a face value of $1 million is sold to yield 5.27 percent. a. At what price did the T-bill sell if the yield was quoted by the market? (Use 365 days a year. Round the final answer to 2 decimal places.) Price b. At what price did the T-bill sell if the yield was an effective annual yield? (Use 365 days a year. Round the final answer to 2 decimal places.) Price
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