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Problem 2: (3 points) Suppose that the price of a Treasury bill with 90 days to maturity and a $1 million face value is $980,000.

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Problem 2: (3 points) Suppose that the price of a Treasury bill with 90 days to maturity and a $1 million face value is $980,000. What is the yield on a bank discount basis? What is the bond equivalent yield

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