Question
A T-bill with face value $10,000 and 84 days to maturity is selling at a bank discount ask yield of 3.1%. a. What is the
A T-bill with face value $10,000 and 84 days to maturity is selling at a bank discount ask yield of 3.1%. a. What is the price of the bill? (Use 360 days a year. Do not round intermediate calculations. Round your answer to 2 decimal places.)
b. What is its bond equivalent yield? (Use 365 days a year. Do not round intermediate calculations. Round your answer to 2 decimal places.)
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Personal Finance
Authors: Jeff Madura
3rd Edition
0321357973, 978-0321357977
