Question
The Federal Reserve is offering Treasury bills with a par value of $25 billion for sale. They have received $7 billion of noncompetitive bids. The
The Federal Reserve is offering Treasury bills with a par value of $25 billion for sale. They have received $7 billion of noncompetitive bids. The competitive bids for a $10,000 par value bond are:
| Bidder | Price Bid | Qty Bid | |||
| A | $ | 9,700 | $ | 5 | billion |
| B | $ | 9,650 | $ | 9 | billion |
| C | $ | 9,600 | $ | 4 | billion |
| D | $ | 9,550 | $ | 9 | billion |
What price will Bidder A pay per bond, assuming that bid is accepted?
Multiple Choice
-
$9,700
-
$9,675
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$9,600
-
$9,750
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$9,650
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Financial Times Guide To The Financial Markets
Authors: Glen Arnold
1st Edition
0273730002, 978-0273730002
