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If an investor buys a T-bill with a 90-day maturity and $50,000 par value for $48,500 and holds it to maturity, what is the annualized
If an investor buys a T-bill with a 90-day maturity and $50,000 par value for $48,500 and holds it to maturity, what is the annualized yield?
1) about 13.4 percent
2) about 12.5 percent
3) about 11.3 percent
4) about 11.6 percent
5) about 10.7 percent
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