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A T-bill with a face value of $100,000 will mature in 29 days. If the quoted discount yield on the T-bill is 2.19%, what is
A T-bill with a face value of $100,000 will mature in 29 days. If the quoted discount yield on the T-bill is 2.19%, what is the current price of the instrument? Round your final answer to two decimal places (Ex. $0.00).
Can you explain it how you got the answer step by step. Please dont skip any steps. I really want to learn the material. If you can use a calculator that be great too. Thank you.
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