Assume that we have a T-bill with face value of 1000 $. The maturity date of this
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Question:
Assume that we have a T-bill with face value of 1000 $. The maturity date of this bill is Dec. 15th, 2021, today is Jul 20th, 2021. Current price of this bill is 973.14 $. Calculate the yearly discount on this bill assuming Act/Act time convention (take into account possibility of leap year). The yearly discount rate on this bill is:
a.
6.62%
b.
6.12%
c.
6.83%
d.
6.81%
Related Book For
Advanced Accounting
ISBN: 978-0538480284
11th edition
Authors: Paul M. Fischer, William J. Tayler, Rita H. Cheng
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