Question
An investor agrees to buy a 180-day Treasury bill with a face value of $10,000 that is quoted at a discount rate of 4.80% (bank
An investor agrees to buy a 180-day Treasury bill with a face value of $10,000 that is quoted at a discount rate of 4.80% (bank discount method). The convention for the total number of days per year is 360 days.
What is the price the investor will pay for this Treasury bill?
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Foundations of Financial Management
Authors: Stanley Block, Geoffrey Hirt, Bartley Danielsen, Doug Short, Michael Perretta
10th Canadian edition
1259261018, 1259261015, 978-1259024979
