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Consider the hypothetical T-Bill quote: Treasury Bill Quote: N=126 Bid=3.34 Ask=3.33 Ask Yld= ? a. Compute the price (as a % of par) that an

Consider the hypothetical T-Bill quote: Treasury Bill Quote: N=126

Bid=3.34

Ask=3.33

Ask Yld= ? a. Compute the price (as a % of par) that an investor must pay for this T-Bill. b. What is the yield on a bond-equivalent basis? c. Compute the effective annual yield. d. What will be reported as Ask Yld in the above table?

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