Chapter 11 Questions If you pay $990 for a 28-day T-bill. It is worth $1,000 at maturity. What is the annualized investment yield? Can non-banks participate in the fed funds market. How about repurchase agreements? Commercial paper is issued by what type of entity to borrow money and what is the maximum maturity? The price of a 182-day commercial paper is $8,000. If the annualized investment rate is 4.093%, what is the face value at maturity