Question
An investor buys a T-bill at a bank discount quote of 4.3 with 120 days to maturity for 9856.67. The bill has a face value
An investor buys a T-bill at a bank discount quote of 4.3 with 120 days to maturity for 9856.67. The bill has a face value of $10,000. The investor's bond equivalent yield on this investment is _____.
| 4.73% | ||
| 3.39% | ||
| 3.64% | ||
| 4.42% |
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started
Personal Financial Planning
Authors: Randy Billingsley, Lawrence J. Gitman, Michael D. Joehnk
15th Edition
978-0357438480, 0357438485
