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On May 22nd, Amy purchased a 180 day Government of Canada T-bill with a face value of $12,000 and a rate that would yield a
On May 22nd, Amy purchased a 180 day Government of Canada T-bill with a face value of $12,000 and a rate that would yield a 3.02% return. There is 169 days remaining in the term. Amy then sold the T-bill 30 days later on June 21st when the rate was at 2.05%. (Hint: a timeline might be helpful) Calculate the following information: The amount Amy paid for the T-bill on May 22nd The amount Amy sold the T-bill for on June 21st The amount of Amy's gain or loss on the sale
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