In Section 30-4 we described a three-month bill that was issued on an annually compounded yield of

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In Section 30-4 we described a three-month bill that was issued on an annually compounded yield of 5.18%. 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: 978-0077404895

10th Edition

Authors: Richard A. Brealey, Stewart C. Myers, Franklin Allen

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