An investor buys a T-bill at a bank discount quote of 5.70 with 120 days to maturity

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An investor buys a T-bill at a bank discount quote of 5.70 with 120 days to maturity for 9,810.00. The bill has a face value of $10,000. The investor's bond equivalent yield on this investment is _____.

5.73%
6.35%
5.89%
5.81%

Related Book For answer-question

Fundamentals of Investing

ISBN: 9780134083308

13th edition

Authors: Scott B. Smart, Lawrence J. Gitman, Michael D. Joehnk

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Posted Date: Sep 08, 2020 02:45 AM

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An investor buys a T-bill at a bank discount quote of 5.70 with 120 days to maturity

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Fundamentals of Investing

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