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Suppose the U.S. Treasury auctions $10 billion of 90-day bills, and the competitive bids are $6 billion at 1.670 %, $3 billion at 1.673%,
Suppose the U.S. Treasury auctions $10 billion of 90-day bills, and the competitive bids are $6 billion at 1.670 %, $3 billion at 1.673%, and $2 billion at 1.675%. Noncompetitive bids are $1 billion in total. What yield will noncompetitive bidders receive?
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answer 1 Find the total amount from competitive bids Total competitive bids 6 billion 3 billion 2 bi...
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Precalculus
Authors: Michael Sullivan
9th edition
321716835, 321716833, 978-0321716835
