Question
Assume that 3-month Treasury bills totaling $11 billion were sold in $10,000 denominations at a discount rate of 3.250%. In addition, the Treasury Department sold
Assume that 3-month Treasury bills totaling $11 billion were sold in $10,000 denominations at a discount rate of 3.250%. In addition, the Treasury Department sold 6-month bills totaling $9 billion at a discount rate of 3.195%.
a. What is the discount amount for 3-month bills? (Do not round intermediate calculations. Round your final answer to the nearest cent.)
b. What is the discount amount for 6-month bills? (Do not round intermediate calculations. Round your final answer to the nearest cent.)
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