Question
The Treasury Department auctioned $14 billion in 3-month bills in denominations of $10,000 at a discount rate of 3.600%. What would be the effective rate
The Treasury Department auctioned $14 billion in 3-month bills in denominations of $10,000 at a discount rate of 3.600%.
What would be the effective rate of interest? (Use calendar year. Do not round intermediate calculations. Round your answer to the nearest hundredth percent.)
Effective rate of interest %
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Money And Capital Markets
Authors: Peter Rose, Milton Marquis
10th Edition
0077235800, 9780077235802
