Question
TL TR Bank is planning to purchase a T-bill with a face value of $100,000. The T-bill is quoted at a bank discount of 2.1%
TL TR Bank is planning to purchase a T-bill with a face value of $100,000. The T-bill is quoted at a bank discount of 2.1% and has 320 days to maturity. What is the price of the T-bill? Use 360 days.
A. $98,133.33
B. $18,666.67
C. $4,761,904.76
D. $2,100
Please show the work. Thank you.
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Governing Global Finance
Authors: Michele Fratianni, Paolo Savona
1st Edition
1138742147, 978-1138742147
