Government of Alberta 364-day T-bills with a face value of $1,000,000 were purchased on April 7 for
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Question:
Government of Alberta 364-day T-bills with a face value of $1,000,000 were purchased on April 7 for $971,578. The T-bills sold on May 16 for $983,500.
a). What was the market yield rate on April 7?
b). What was the market yield rate on May 16?
c). What was the rate of return realized?
Related Book For
Using Financial Accounting Information The Alternative to Debits and Credits
ISBN: 978-1111534912
8th edition
Authors: Gary A. Porter, Curtis L. Norton
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