The average price on 91-day Treasury bills at a recent Tuesday auction was 98.671 with maturity value
Question:
The average price on 91-day Treasury bills at a recent Tuesday auction was 98.671 with maturity value 100. Calculate the T-bill's annualized yield.
MaturityMaturity is the date on which the life of a transaction or financial instrument ends, after which it must either be renewed, or it will cease to exist. The term is commonly used for deposits, foreign exchange spot, and forward transactions, interest...
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Related Book For 
Foundations of Financial Management
ISBN: 978-1259024979
10th Canadian edition
Authors: Stanley Block, Geoffrey Hirt, Bartley Danielsen, Doug Short, Michael Perretta
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