In Section 31.3 we described a six-month bill that was issued on an annually compounded yield of

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In Section 31.3 we described a six-month bill that was issued on an annually compounded yield of 5.19 percent. Suppose that one month has passed and the investment still offers the same annually compounded return. What is the percentage discount? What was your return over the month?

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Principles of Corporate Finance

ISBN: 978-0072869460

7th edition

Authors: Richard A. Brealey, Stewart C. Myers

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