Question
The Treasury Department auctioned $32 billion in 3-month bills in denominations of $10,000 at a discount rate of 6.150%. What would be the effective rate
The Treasury Department auctioned $32 billion in 3-month bills in denominations of $10,000 at a discount rate of 6.150%. What would be the effective rate of interest? (Use calendar year. Do not round intermediate calculations. Round your answer to the nearest hundredth percent.)
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The Structured Credit Handbook
Authors: Arvind Rajan, Glen McDermott, Ratul Roy
1st Edition
0471747491, 978-0471747499
