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How could I rephrase this question into one that gives me $ amounts to work with? What is the T-Bill discount rate on a one-year

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How could I rephrase this question into one that gives me $ amounts to work with?

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What is the T-Bill discount rate on a one-year T-bill you buy for 97.5 and hold for the remaining 270 days until maturity? TBill Discount rate (T-Bill Rate - Note: 360 day year) Par PP 360 100 97.5 360 = -- x-- = .025 X 1.333 = .03333 5 3.333% = 3 1/3 % Par n 100 270 DT n I I | ! N I I | I DT = T-Bill Discount (%) SP = selling price PP = purchase price n = # days

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