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During a Treasury auction, several bidders submittedbids for $2.1 billion (par value) 91 -day T-bills as follows: Bidder 1:$500 million at $99.55 per $100. Bidder
During a Treasury auction, several bidders submittedbids for $2.1 billion (par value) 91 -day T-bills as follows: Bidder 1:$500 million at $99.55 per $100. Bidder 2: $750 million at $99.04 per $100. Bidder 3: $1.5 billion at $99.25 per $100. Bidder 4: $1 billion at $99.36 per $100. Bidder 5: $600 million at $99.34 per $100. What prices will the respective bidders need to pay for their T-bills?
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