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Suppose that a T-bill is quoted with an asked quote of 1.986 and a bid quote of 2.986. It has a par value of $1,000
Suppose that a T-bill is quoted with an asked quote of 1.986 and a bid quote of 2.986. It has a par value of $1,000 and the time to maturity is 90 days. At what price will the broker buy that T-bill from you? (a) $995.04
(b) $992.52
(c) $926.37
(d) $951.03
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