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Assume that 3-month Treasury bills totaling $31 billion were sold in $10,000 denominations at a discount rate of 6.500%. In addition, the Treasury Department sold
Assume that 3-month Treasury bills totaling $31 billion were sold in $10,000 denominations at a discount rate of 6.500%. In addition, the Treasury Department sold 6-month bills totaling $29 billion at a discount rate of 6.445%. a. 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 2 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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