The U.S. government borrows money by selling Treasury bills. Treasury bills are discounted notes issued by...

Transcribed Image Text:

The U.S. government borrows money by selling Treasury bills. Treasury bills are discounted notes issued by the U.S. government. On February 5, 2003, Kris Greenhalgh purchased a 149-day, $2000 U.S. Treasury bill at a 4.57% discount. On the date of maturity Kris received $2000. Complete parts a) through d). Click the icon to view the table of maturity dates. a) What is the date of maturity of the Treasury bill? The date of maturity of the Treasury bill is b) How much did Kris actually pay for the Treasury bill? $ (Round to the nearest cent.) c) How much interest did the U.S. government pay Kris on the date of maturity? 2003 d) What is the actual rate of interest of the Treasury bill? (Assume a 360-day year.) % (Round to the nearest hundredth of a percent.) The U.S. government borrows money by selling Treasury bills. Treasury bills are discounted notes issued by the U.S. government. On February 5, 2003, Kris Greenhalgh purchased a 149-day, $2000 U.S. Treasury bill at a 4.57% discount. On the date of maturity Kris received $2000. Complete parts a) through d). Click the icon to view the table of maturity dates. a) What is the date of maturity of the Treasury bill? The date of maturity of the Treasury bill is b) How much did Kris actually pay for the Treasury bill? $ (Round to the nearest cent.) c) How much interest did the U.S. government pay Kris on the date of maturity? 2003 d) What is the actual rate of interest of the Treasury bill? (Assume a 360-day year.) % (Round to the nearest hundredth of a percent.)