Question
Treasury Bills (zero coupon bonds with a face value of 1000 TL. with 45 days to maturity are trading currently at a price of 972.88
Treasury Bills (zero coupon bonds with a face value of 1000 TL. with 45 days to maturity are trading currently at a price of 972.88 TL. If you buy this zero coupon now at the current price, what will be the effective annual rate (EAR) that you will get at the end of its maturity?
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Foundations of Finance The Logic and Practice of Financial Management
Authors: Arthur J. Keown, John D. Martin, J. William Petty
8th edition
132994879, 978-0132994873
