Question
Assume that a $1,000 face value, 201 days to maturity T-bill is selling for a 1.216% discount rate. Calculate the purchase price of the
Assume that a $1,000 face value, 201 days to maturity T-bill is selling for a 1.216% discount rate. Calculate the purchase price of the T-bill. Please round the final answer to three decimal places.
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Managerial Accounting
Authors: Karen W. Braun, Wendy M. Tietz
5th edition
978-0134128528
