A T-Bill quote sheet has 60 day T-bill quotes with a 3.33 bid and 3.12 ask. If the bill has $10,000 face value, a dealer could buy this bill for ____. Please pay attention to bid vs ask as and show your work.

Dealer buys a Bib and Sells Ask.

Please explain in details how we articulate the formula here for the correct quote. What is the difference between the dealer and an investor in this calculation. Thank you.