EXAMPLE 5-6 Conversion of Federal Funds Rate of Interest to a Bond Equivalent Rate From Table S-1, the overnight fed funds rate on May 16, 2016, was 0.41 pereent. The conversion of the fed funds rate to a bond equivalent rate is calculated as follows: EXAMPLE 5-6 Comfersion of Federal Funds Rate of Interest to a Bond Fquivalent Rate From Table 51, the overnight fed funds rate on May 16, 2016, was 0.41 percent. The con. version of the fed funds rate to a bond equivalent rate is calculated as follows: EXAMPLE 5-5 Calculation of Treasury Bill Price from a Wall Street Journal Quote From Table 5-5, the asked (or discount) yield on the T-bill maturing on November 3, 2016 (or 171 days from the settlement date, May 17, 2016), is 0.328 percent. The T-bill price for these T-bills is calculated as: EXAMPLE 5-6 Conversion of Federal Funds Rate of Interest to a Bond Equivalent Rate From Table S-1, the overnight fed funds rate on May 16, 2016, was 0.41 pereent. The conversion of the fed funds rate to a bond equivalent rate is calculated as follows: EXAMPLE 5-6 Comfersion of Federal Funds Rate of Interest to a Bond Fquivalent Rate From Table 51, the overnight fed funds rate on May 16, 2016, was 0.41 percent. The con. version of the fed funds rate to a bond equivalent rate is calculated as follows: EXAMPLE 5-5 Calculation of Treasury Bill Price from a Wall Street Journal Quote From Table 5-5, the asked (or discount) yield on the T-bill maturing on November 3, 2016 (or 171 days from the settlement date, May 17, 2016), is 0.328 percent. The T-bill price for these T-bills is calculated as