Question
A Treasury bill with face value $100,000 and maturity 3 months sells for $99,000. What would be the rate quoted on this bill on a
A Treasury bill with face value $100,000 and maturity 3 months sells for $99,000. What would be the rate quoted on this bill on a discount basis? What would be its effective annual rate? Express you answers as a percentage.
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Introduction To Finance Markets, Investments, And Financial Management
Authors: Ronald W. Melicher, Edgar A. Norton
17th Edition
1119561175, 978-1119561170
