Question
On Tuesday, the Reserve Bank announces details of a 160-day T-note tender, with competitive bids to close on Wednesday. A bank lodged a successful bid
On Tuesday, the Reserve Bank announces details of a 160-day T-note tender, with competitive bids to close on Wednesday. A bank lodged a successful bid for $500 000 in T-notes at a yield of 5.57% per annum. Settlement is required on Thursday through RITS. What amount will the bank need to pay on settlement?
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Fundamentals of Investments Valuation and Management
Authors: Bradford D. Jordan, Thomas W. Miller
5th edition
978-007728329, 9780073382357, 0077283295, 73382353, 978-0077283292
