Question
Canada 3-Month Treasury Bill Yield is the yield received for investing in a Canadian government-issued treasury security with a maturity of 3 months. On
Canada 3-Month Treasury Bill Yield is the yield received for investing in a Canadian government-issued treasury security with a maturity of 3 months. On December 14, 2022, Canada's 3-Month Treasury Bill Yield was 3.98%. An institutional investor (bought) longed for a 3-month T-bill in denominations of $10,000,000. On January 20, 2023, the investor sold the T-bill in the market with a yield of 4.33%. What is the return for this investor? Assume the investor bought the T-bill on its issuing day. Show your calculations.
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Intermediate Accounting
Authors: Donald Kieso, Jerry Weygandt, Terry Warfield, Nicola Young,
10th Canadian Edition, Volume 1
978-1118735329, 9781118726327, 1118735323, 1118726324, 978-0176509736
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