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Assume that we have a T-bill with face value of 10000 PLN. The maturity date of this bill is Sept. 10th, today is May, 25th.

Assume that we have a T-bill with face value of 10000 PLN. The maturity date of this bill is Sept. 10th, today is May, 25th. Calculate the current price of this bill if the yearly rate of return rate on this bill is 8.84%. Assume 30/365 time convention. Current price should be:

a.

975.21 PLN

b.

more than 9753 PLN

c.

less than 9753 PLN.

d.

the other answers are incorrect.

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