A U$.$S$.$ Treasury bill with a maturity value of $1,000$ will mature $260$ days from today. If its current price is $948,$ what is the quoted rate for this T$-$bill?

A$)5\mathrm{.}5\%$

B$)7\mathrm{.}2\%$

C$)7\mathrm{.}3\%$

D$)7\mathrm{.}6\%$

E$)7\mathrm{.}7\%$

ACTEX Learning

Exam FM $-$ Financial Mathematic

Dinius, Hassett, Ratliff, Garcia, & Steeby

actice Exam $1-$ Exam FM

Page PE$1-7$