You just won a $2,000,000 lottery. Although tempted to spend your win, you have decided to invest the $2,000,000 in Government of Canada Treasury Bills until you gain a better understanding of finance. If 157-day T Bills currently have a Bond Equivalent Yield (BEY) of 3.8%, how much will a T Bill with a $2,000,000 face value cost to purchase?

Multiple Choice

• $1,396,373.12

• $1,219,452.89

• $1,967,835.33

• $1,532,457.21