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Assume that for Municipal debt we know the following: $4.0 trillion is outstanding. annual issuance is $0.43 trillion, and average daily trading volume is $0.013

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Assume that for Municipal debt we know the following: $4.0 trillion is outstanding. annual issuance is $0.43 trillion, and average daily trading volume is $0.013 trillion. Assuming Municipal debt trades only 250 days per year, this implies that Municipal debt turns over times per year. 1) 0.916 2) 9.16 3) 0.81 4) 0.0916 5) 0.081

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