Question
The Treasury Department auctioned $28 billion in 3-month bills in denominations of $10,000 at a discount rate of 5.550%. What would be the effective rate
The Treasury Department auctioned $28 billion in 3-month bills in denominations of $10,000 at a discount rate of 5.550%.
What would be the effective rate of interest?
Note: Use calendar year. Do not round intermediate calculations. Round your answer to the nearest hundredth percent.
I know that the answer is NOT 23.50%
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The Handbook Of Hybrid Securities Convertible Bonds CoCo Bonds And Bail In
Authors: Jan De Spiegeleer, Wim Schoutens, Cynthia Van Hulle
1st Edition
1118449991, 978-1118449998
