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The par value of each T bill is $10,000 price paid by investor to by T bills maturing on December 8,2016 = $9979.83 information available:
The par value of each T bill is $10,000 price paid by investor to by T bills maturing on December 8,2016 = $9979.83 information available: Face value: $10,000 maturity: 14-July-2016 Days ro maturity: 54 Fractional yield = quoted yield *(days to maturity/360) Price= face value *(1-fractional yield) 
MATURITY DAYS TO MAT BID Yield (%) ASKED Yield (%) CHG(%) 14-Jul-2016 54 0.162 0.142 0.002 01-Sep-2016 115 0.263 0.246 0.001 27-Oct-2016 171 0.372 0.357 0.001 08-Dec-2016 220 0.343 0.330 0.005 27-Apr-2017 353 0.612 0.568 0.003 (b) Based on the Bank Discount Method, how much price the investor can sell the bill maturing on 14-Jul- 2016 to the dealer
The par value of each T bill is $10,000
price paid by investor to by T bills maturing on December 8,2016 = $9979.83
information available:
Face value: $10,000
maturity: 14-July-2016
Days ro maturity: 54
Fractional yield = quoted yield *(days to maturity/360)
Price= face value *(1-fractional yield)
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Accounting Principles Volume 1 And Volume 2
Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel, Barbara Trenholm, Valerie Warren, Lori Novak
9th Canadian Edition
1119786649, 978-1119786641
