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The results of Tender 1065 herd on 2nd tvfay2008 for Government of Ghana Securities show the rates for 91 Day and 182 Day Treasury Bills

The results of Tender 1065 herd on 2nd tvfay2008 for Government of Ghana Securities show the rates for 91 Day and 182 Day Treasury Bills as follows:

TREASURY BILLS ANDNOTES

Securities

91 Day Bill

182 Day Bill

l Year Note

2 Year Fixed Rate Note

Range of Bid

Rates (% P.A)

10.79 - 13.00

11.00 - 12.70

12.00 - 14.00

13.00 - 14.00

Bid Rates Allotted in Full (% P.A)

Discount Rates

10.79 - 12.80

11.00 - 12.70

Interest Rates

?-?

?-?

12.00 - 14.00

13.00 - 14.00

3 Year Fixed Rate Note

14.00 - 16.50

14.00 - 16.50

Using the Discount Rates provided for the 91 Day Bill and 182 Day Bill, calculate their Interest Equivalent Rates indicated in the table with Question Marks (?). [8 Marks] NOTE: DO NOT DRAW THE TABLE

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