A money market security with a face value of $23,446 and 76 days to maturity is selling

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A money market security with a face value of $23,446 and 76 days to maturity is selling for $22,691.62. What is the current bank discount yield for this security?

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Financial Markets and Institutions

ISBN: 978-1337099745

12th edition

Authors: Jeff Madura

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Posted Date: Apr 26, 2023 07:05 AM

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A money market security with a face value of $23,446 and 76 days to maturity is selling

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The formula for bank discount yield is Bank Discount Yield Discount Face Value x 360 Days to M... View the full answer

Financial Markets and Institutions

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