Question
Assume that 3-month Treasury bills totaling $17 billion were sold in $10,000 denominations at a discount rate of 4.350%. In addition, the Treasury Department sold
Assume that 3-month Treasury bills totaling $17 billion were sold in $10,000 denominations at a discount rate of 4.350%. In addition, the Treasury Department sold 6-month bills totaling $15 billion at a discount rate of 4.295%
What is the discount amount for 3-month bills? (Do not round intermediate calculations. Round your final answer to the nearest cent.)
Discount amount for 3-month bills*$
b. What is the discount amount for 6-month bills? (Do not round intermediate calculations. Round your final answer to the nearest cent.)
Discount amount for 6-month bills*$
c. What is the effective rate for 3-month bills? (Do not round intermediate calculations. Round your final answer to the nearest hundredth percent.)
Effective rate for 3-month bills* %
d. What is the effective rate for 6-month bills? (Do not round intermediate calculations. Round your final answer to the nearest hundredth percent.)
Effective rate for 6-month bills* %
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Income Tax Fundamentals 2013
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
31st Edition
1111972516, 978-1285586618, 1285586611, 978-1285613109, 978-1111972516
