FREE Trial
Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The Treasury announces an auction of $18 billion par value of 90 -day T-bills. $4 billion of noncompetitive bids are received. The competitive bids are

image text in transcribed

The Treasury announces an auction of $18 billion par value of 90 -day T-bills. $4 billion of noncompetitive bids are received. The competitive bids are as shown. What is the revenue received by the Treasury in $ billion from this auction? Round your answer to 3 decimal places. For example, if your answer is 4.5678, please write down 4.568

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Banker To The World

Banker To The World

Authors: William Rhodes

1st Edition

0071704256, 978-0071704250

More Books

Students also viewed these Finance questions

Question

1. Define analysis of variance.

Answered: 1 week ago

Question

★★★★★
Libby Temple Manufacturing has three factories (1, 2, and 3) and three warehouses (A, B, and C). The following table shows the shipping costs between each factory and warehouse, the factory...

Answered: 1 week ago

Question

★★★★★
Exercise 2-15 Post transactions to T-accounts (LO2-5) Consider the recorded transactions below. Debit Credit 1. Accounts Receivable 8,500 Service Revenue 8,500 2. Supplies 1,750 Accounts Payable...

Answered: 1 week ago

Question

★★★★★
The following financial information is available for Pharoah Ltd . as at December 3 1 ( in thousands, except for per share amounts ) : ( a ) Calculate the earnings per share, price - earnings ratio,...

Answered: 1 week ago

Question

★★★★★
An insurer has $2,500,000 in total earned premiums for the year. It experiences and pays out in one year $1,000,000 in total losses and $500,000 in underwriting expenses. As a result, under statutory...

Answered: 1 week ago

Question

★★★★★
Shakeia Duncan wants to know what home price she can afford. Her annual gross income is $ 4 6 , 8 0 0 . She owes $ 8 3 0 per month on other debts and expects her property taxes and homeowner's...

Answered: 1 week ago

Question

★★★★★
A lab orders a number of chemicals from the same supplier, with a lead time two weeks. The assistant manager of the lab must determine how much of one of these chemicals to order. Usage of the...

Answered: 1 week ago

Question

★★★★★
Spec, Inc.s stock is expected to generate a dividend and terminal value one year from now of P57.00.The stock has a beta of 1.3, the risk-free interest rate is 6 percent, and the expected return...

Answered: 1 week ago

Question

★★★★★
1. Honda is planning to introduce new electric car in 2 years. Describe your role in detail as Procurement and Purchasing Manager of Honda to ensure this product will be ready to launch in two years....

Answered: 1 week ago

Question

★★★★★
What do you think of social media as a recruitment tool? Give an example of this activity.

Answered: 1 week ago

Question

★★★★★
Of the building blocks in the competency model, which competency level is the most important and why?

Answered: 1 week ago

Question

★★★★★
Discuss different selection tests. Have you ever taken a selection test? Do you think these tests are a good way to select employees? Defend your answer. cussion Boards

Answered: 1 week ago

Previous Question Next Question