Answered step by step
Verified Expert Solution
Question
1 Approved Answer
At a recent auction of 10-year Treasury Note, total of $100,000,000 (par value) was offered for sale. The total amount of noncompetitive bids were $20,000,000.
At a recent auction of 10-year Treasury Note, total of $100,000,000 (par value) was offered for sale. The total amount of noncompetitive bids were $20,000,000. The highest accepted yield among competitive bids was 0.60%. How much did Treasury department raise by selling this security in total? (Coupons are paid seminannually.) A. $98,989,186 B. $99,030,819 C. $99,758,332 D. $99,276,869" E. $98,893,491 At a recent auction of 10-year Treasury Note, total of $100,000,000 (par value) was offered for sale. The total amount of noncompetitive bids were $20,000,000. The highest accepted yield among competitive bids was 0.60%. How much did Treasury department raise by selling this security in total? (Coupons are paid seminannually.) A. $98,989,186 B. $99,030,819 C. $99,758,332 D. $99,276,869" E. $98,893,491
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started