A Treasury bill is selling at $991,000, has face value of $1,000,000 and 100 days to maturity. This Treasury bill should be quoted at ____________ on a bank discount basis.

A)

0.9 percent

B)

3.285 percent

C)

3.24 percent

D)

None of the above

Question

A Treasury bill is selling at $991,000, has face value of $1,000,000 and 100 days to maturity. This Treasury bill should be quoted at ____________ on a bank discount basis.


A)	0.9 percent

B)	3.285 percent

C)	3.24 percent

D)	None of the above

Accepted Answer

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Question

A Treasury bill is selling at $991,000, has face value of $1,000,000 and 100 days to maturity. This Treasury bill should be quoted at ____________

A Treasury bill is selling at $991,000, has face value of $1,000,000 and 100 days to maturity. This Treasury bill should be quoted at ____________ on a bank discount basis.

A)

0.9 percent

B)

3.285 percent

C)

3.24 percent

D)

None of the above

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Step: 1

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Question

A Treasury bill is selling at $991,000, has face value of $1,000,000 and 100 days to maturity. This Treasury bill should be quoted at ____________

A Treasury bill is selling at $991,000, has face value of $1,000,000 and 100 days to maturity. This Treasury bill should be quoted at ____________ on a bank discount basis. A) 0.9 percent B) 3.285 percent C) 3.24 percent D) None of the above

Step by Step Solution

Step: 1

Get Instant Access to Expert-Tailored Solutions

Step: 2

Step: 3

Ace Your Homework with AI

A Treasury bill is selling at $991,000, has face value of $1,000,000 and 100 days to maturity. This Treasury bill should be quoted at ____________ on a bank discount basis.

A)

0.9 percent

B)

3.285 percent

C)

3.24 percent

D)

None of the above