A bank is to bid at tender for $1 million of 90-day T-notes at a yield of
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Question:
A bank is to bid at tender for $1 million of 90-day T-notes at a yield of 8% per annum. What price will the bank pay if the tender is successful?
A"$981,202.23 "
B"$1,020,122.97 "
C"$980,655.56 "
D"$1,019,726.03 "
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