A 360 -day Province of Newfoundland and Labrador T-bill with a $100,000 face value was issued on July 1. Global Industrial temporarily had some extra cash available, so the company purchased the T-bill 15 days after it was issued, when the yield was 3% , and sold the T-bill 55 days before its maturity date, when the yield was 2.77% . How much money did Global Industrial earn, and what was the rate of return realized? Round your answers to two decimal places.

Answer rating: 100% (QA)

To calculate the earnings and rate of return for Global Industrial from purchasing and selling the T... View the full answer