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A T-bill with 36 days until maturity is quoted at a 4.5% discount yield. (a) Suppose you purchase $10,000,000 of the T-bill, what price will

A T-bill with 36 days until maturity is quoted at a 4.5% discount yield.

(a) Suppose you purchase $10,000,000 of the T-bill, what price will you pay?

(b) What is the bond equivalent yield of the T-bill?

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