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On April 1, $25,000.00 364-day treasury bills were auctioned off to yield 2.45%. (a) What is the price of each $25,000.00 T-bill on April
On April 1, $25,000.00 364-day treasury bills were auctioned off to yield 2.45%. (a) What is the price of each $25,000.00 T-bill on April 1? (b) What is the yield rate on July 19 if the market price is $24,453.99? (c) Calculate the market value of each $25,000.00 T-bill on September 5 if the rate of return on that date is 3.012%. (d) What is the rate of return realized if a $25,000.00 T-bill purchased on April 1 is sold on December 16 at a market rate of 3.544%?
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